Altria Group (NYSE:MO) Releases FY24 Earnings Guidance

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

Analyst Ratings Changes

A number of research firms have issued reports on MO. Argus upgraded shares of Altria Group to a hold rating in a research report on Friday, May 31st. Bank of America raised their price objective on shares of Altria Group from $47.00 to $48.00 and gave the company a neutral rating in a research note on Wednesday, July 10th. UBS Group upped their target price on shares of Altria Group from $36.10 to $36.50 and gave the company a sell rating in a research report on Monday, April 8th. StockNews.com upgraded Altria Group from a hold rating to a buy rating in a research report on Friday, June 28th. Finally, Stifel Nicolaus lifted their price objective on Altria Group from $50.00 to $54.00 and gave the stock a buy rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $47.90.

Altria Group Trading Up 2.1 %

Shares of MO stock traded up $1.05 on Friday, hitting $51.07. The stock had a trading volume of 12,662,503 shares, compared to its average volume of 8,285,990. Altria Group has a twelve month low of $39.06 and a twelve month high of $51.40. The company has a fifty day moving average price of $47.07 and a two-hundred day moving average price of $43.97. The firm has a market cap of $87.14 billion, a P/E ratio of 10.68, a PEG ratio of 3.07 and a beta of 0.66.

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

Altria Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 14th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.92 dividend on an annualized basis and a yield of 7.68%. Altria Group’s payout ratio is 82.01%.

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.