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

Altria Group (NYSE:MO) updated its FY 2024 earnings guidance on Thursday. 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.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays increased their price target on Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, September 9th. StockNews.com downgraded Altria Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Bank of America dropped their price objective on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. UBS Group raised their price target on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Finally, Citigroup raised their price target on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $48.20.

Altria Group Stock Performance

Shares of NYSE:MO traded up $3.79 during trading on Thursday, reaching $54.29. The stock had a trading volume of 10,575,231 shares, compared to its average volume of 9,825,215. The business has a fifty day moving average price of $51.34 and a 200-day moving average price of $48.25. The stock has a market cap of $92.63 billion, a PE ratio of 9.27, a PEG ratio of 2.89 and a beta of 0.65. Altria Group has a 1-year low of $39.25 and a 1-year high of $54.95.

Altria Group (NYSE:MO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $5.39 billion. Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the firm posted $1.31 EPS. Sell-side analysts expect that Altria Group will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The business also recently disclosed 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 yield of 7.52%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is 70.34%.

About Altria Group

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.