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

Altria Group (NYSE:MO) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 5.070-5.150 for the period, compared to the consensus EPS 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

Several research analysts have commented on the stock. Citigroup upped their target price on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday. UBS Group raised their target price on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Finally, Bank of America reduced their price target on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.17.

Altria Group Stock Down 1.1 %

NYSE:MO traded down $0.59 during trading hours on Friday, reaching $53.87. 10,986,246 shares of the company’s stock were exchanged, compared to its average volume of 7,304,533. The company has a market capitalization of $91.91 billion, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 3.14 and a beta of 0.64. Altria Group has a 12 month low of $39.25 and a 12 month high of $54.95. The business’s 50-day simple moving average is $51.42 and its two-hundred day simple moving average is $48.43.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same period in the prior year, the firm earned $1.28 earnings per share. The business’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Altria Group will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.57%. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is 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.