Royal Bank of Canada restated their buy rating on shares of Altria Group (NYSE:MO) in a research note released on Monday morning, AnalystRatings.com reports. Royal Bank of Canada currently has a $68.00 price objective on the stock.
MO has been the subject of several other research reports. Deutsche Bank reduced their target price on shares of Altria Group from $59.00 to $56.00 and set a buy rating for the company in a report on Friday, January 31st. ValuEngine raised shares of Altria Group from a sell rating to a hold rating in a report on Tuesday, March 17th. Morgan Stanley raised shares of Altria Group from an equal weight rating to an overweight rating and set a $49.00 target price for the company in a report on Monday, March 16th. Piper Sandler raised shares of Altria Group from a neutral rating to an overweight rating and raised their target price for the stock from $52.00 to $57.00 in a report on Thursday, January 30th. Finally, Citigroup raised shares of Altria Group from a neutral rating to a buy rating and set a $60.00 target price for the company in a report on Monday, December 2nd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $55.39.
Shares of Altria Group stock opened at $36.64 on Monday. The company has a debt-to-equity ratio of 4.28, a current ratio of 0.59 and a quick ratio of 0.31. The firm has a fifty day moving average price of $41.80 and a 200 day moving average price of $45.68. Altria Group has a 1 year low of $30.95 and a 1 year high of $57.88. The stock has a market cap of $60.17 billion, a PE ratio of -50.89, a price-to-earnings-growth ratio of 1.17 and a beta of 0.61.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, January 30th. The company reported $1.02 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.02. Altria Group had a negative net margin of 5.15% and a positive return on equity of 67.74%. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the company posted $0.95 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year. As a group, equities analysts expect that Altria Group will post 4.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, March 24th. This represents a $3.36 dividend on an annualized basis and a yield of 9.17%. Altria Group’s payout ratio is 79.62%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Simon Quick Advisors LLC grew its position in shares of Altria Group by 518.4% in the fourth quarter. Simon Quick Advisors LLC now owns 538 shares of the company’s stock valued at $27,000 after purchasing an additional 451 shares during the period. Cedar Mountain Advisors LLC acquired a new stake in shares of Altria Group in the fourth quarter valued at about $27,000. Manchester Financial Inc. acquired a new stake in shares of Altria Group in the fourth quarter valued at about $28,000. Barnett & Company Inc. grew its position in shares of Altria Group by 1,005.6% in the fourth quarter. Barnett & Company Inc. now owns 597 shares of the company’s stock valued at $30,000 after purchasing an additional 543 shares during the period. Finally, New South Capital Management Inc. acquired a new stake in shares of Altria Group in the fourth quarter valued at about $30,000. 63.26% of the stock is owned by institutional investors.
About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
Further Reading: Current Ratio
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