7 Stocks Hit 52-Week Highs: Philip Morris, Visa
NEW YORK ( TheStreet) -- The following stocks reached 52-week highs on Friday: Philip Morris International (PM) , Visa(V) , Toll Brothers (TOL) , CBS(CBS) , Family Dollar (FDO) , PetSmart(PETM) and Dillard's(DDS) .
Philip Morris International
"PM reported a very impressive 1Q12 adj. EPS of $1.25, beating our forecast by 2
Shares of Philip Morris hit a 52-week high Friday of $90.22. The stock's 52-week low of $60.45 was set on Oct. 4.
Philip Morris trades at an estimated price-to-earnings ratio for next year of 15.35 times; the average for tobacco companies is 12.37. For comparison, Altria(MO) has a forward P/E of 13.58.
Fourteen of the 22 analysts who cover Philip Morris rated it buy. Seven analysts gave the stock a buy rating and one rated it sell.
TheStreet Ratings gives Philip Morris a B grade with a buy rating and $113.86 price target. The stock has risen 15.1% year to date.
The credit card company is scheduled to report second-quarter earnings on May 2. Analysts, on average, anticipate earnings of $1.50 a share on $2.48 billion in revenue.
"We expect strong results this quarter, following growth in purchase volumes through the first three months of the calendar year," Trefis analysts wrote in a report Wednesday. "Visa reported strong results last quarter with a net income of $1.0 billion or $1.49 per diluted share. These results can be attributed to the renewed optimism following the economic recovery across the U.S., as retail customers are regaining confidence to spend more. This trend has continued this quarter as Visa reported a 10% increase in total payments volume in February 2012 from the previous year. Increased spending by customers will also have a positive effect on Visa's main competitors MasterCard (MA) , Discover Financial (DFS) and American Express (AXP) ."
Shares of Visa hit a 52-week high Friday of $124.21. The stock's 52-week low of $73.11 was set on June 27.
Visa's forward P/E is 17.6 times; the average for consumer finance companies is 10.04. For comparison, American Express (AXP) has a lower forward P/E of 12.62.
Thirty-two of the 41 analysts who cover Visa rated it buy; nine analysts gave the stock a hold rating.