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

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

Altria Group Stock Performance

Shares of NYSE:MO traded down $0.59 during mid-day trading on Friday, hitting $53.87. The stock had a trading volume of 10,986,246 shares, compared to its average volume of 7,304,533. Altria Group has a 12-month low of $39.25 and a 12-month high of $54.95. The company 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 company’s 50 day moving average is $51.42 and its 200-day moving average is $48.43.

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

Altria Group Increases Dividend

The business 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. The ex-dividend date was Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.57%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio (DPR) is 68.92%.

Analysts Set New Price Targets

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

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.