Altria Group (NYSE:MO) Updates FY24 Earnings Guidance

Altria Group (NYSE:MO) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.07-5.15 for the period, compared to the consensus estimate of $5.10. Altria Group also updated its FY 2024 guidance to 5.070-5.150 EPS.

Analysts Set New Price Targets

Several brokerages recently commented on MO. Deutsche Bank Aktiengesellschaft raised their price objective on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday. Barclays lifted their price objective on Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, September 9th. UBS Group increased their target price on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Bank of America dropped their target price on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $51.17.

Altria Group Trading Down 1.1 %

Shares of MO traded down $0.59 during midday trading on Friday, reaching $53.87. The stock had a trading volume of 10,986,246 shares, compared to its average volume of 7,304,533. The firm has a market cap of $91.91 billion, a PE ratio of 9.10, a P/E/G ratio of 3.14 and a beta of 0.64. The firm has a 50 day simple moving average of $51.42 and a 200-day simple moving average of $48.43. Altria Group has a one year low of $39.25 and a one year high of $54.95.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.02. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same period in the previous year, the firm earned $1.28 EPS. The firm’s revenue was up 18.6% compared to the same quarter last year. As a group, research analysts forecast that Altria Group will post 5.11 EPS for the current fiscal year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were issued a dividend of $1.02 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 7.57%. The ex-dividend date was Monday, September 16th. Altria Group’s dividend payout ratio (DPR) is presently 68.92%.

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.