Philip Morris International Inc (NYSE:PM)
Philip Morris, the multi International behemoth manufacturer of cigarettes, tobacco and other products which contain nicotine will report their fiscal third-quarter earnings on Tuesday October 18th. Its products are sold around the world and beloved by many who seemingly love the ingredient called tobacco and thus, nicotine. When the company posted their last earnings, results came in weaker-than-expected. For years the company has been under pressure from anti-tobacco campaigns that are present worldwide.
Shares have traded in a 52-week range from $83.27 to $104.20. They pay a hefty dividend at 4.33%. It is because of this dividend that shares in this company have found their way into many mutual funds and income investor’s portfolios.
Analyst’s Comments
JPMorgan (NYSE:JPM) reduced its price target on the stock to $110 from $112, but maintained its “overweight” rating. “While Q316 results are broadly expected to be subdued we continue to believe the potential progress of PM’s RRP (reduced-risk product) platforms has the potential to re-define the industry while boosting equity value by +40% alongside significant earnings upgrades,” the firm wrote in a note.
The Daily Price Chart
Please see the above daily price chart for Philip Morris going back to the beginning of 2016. You will see two horizontal lines. The upper one in red, which illustrates the resistance price channel – and the lower one, in green, is the lower support trendline. Prices have respected these two lines since January 2016. You will also see the Shaded oval area which illustrates where prices will likely test when earnings are released on Tuesday.
Company Profile
Philip Morris International Inc (NYSE:PM)., through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Merit, Parliament, Virginia S., L&M, Philip Morris, Bond Street, Chesterfield, Lark, Muratti, Next, and Red & White. The company also owns various cigarette brands, such as Dji Sam Soe, Sampoerna, and U Mild in Indonesia; Champion, Fortune, and Hope in the Philippines; Apollo-Soyuz and Optima in Russia; Morven Gold in Pakistan; Boston in Colombia; Belmont, Canadian Classics, and Number 7 in Canada; Best in Serbia; f6 in Germany; Delicados in Mexico; Assos in Greece; and Petra in the Czech Republic and Slovakia. It markets and sells its products in approximately 180 countries in the European Union, Eastern Europe, the Middle East, Africa, Asia, Latin America, and Canada. Philip Morris International Inc. was incorporated in 1987 and is based in New York, New York.