Altria Group (NYSE:MO) Updates FY 2024 Earnings Guidance

Altria Group (NYSE:MO) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 5.070-5.150 for the period, compared to the consensus earnings per share estimate of 5.100. The company issued revenue guidance of -. Altria Group also updated its FY24 guidance to $5.07-5.15 EPS.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Altria Group from $36.10 to $36.50 and gave the stock a sell rating in a research note on Monday, April 8th. StockNews.com upgraded shares of Altria Group from a hold rating to a buy rating in a research note on Friday, June 28th. Bank of America lifted their price target on shares of Altria Group from $47.00 to $48.00 and gave the stock a neutral rating in a research note on Wednesday, July 10th. Stifel Nicolaus lifted their price target on shares of Altria Group from $50.00 to $54.00 and gave the stock a buy rating in a research note on Thursday. Finally, Argus upgraded shares of Altria Group to a hold rating in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Altria Group presently has an average rating of Hold and an average target price of $47.90.

Altria Group Trading Up 2.1 %

MO stock traded up $1.05 on Friday, hitting $51.07. The company’s stock had a trading volume of 12,662,503 shares, compared to its average volume of 8,285,990. The firm has a 50 day moving average of $47.07 and a two-hundred day moving average of $43.99. Altria Group has a 1 year low of $39.06 and a 1 year high of $51.40. The stock has a market cap of $87.14 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66.

Altria Group (NYSE:MO) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The business had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the company earned $1.31 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, equities analysts forecast that Altria Group will post 5.11 EPS for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 14th were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 7.68%. The ex-dividend date of this dividend was Friday, June 14th. Altria Group’s dividend payout ratio is presently 82.01%.

Altria Group Company Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.