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

Altria Group (NYSE:MOGet Free Report) 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.

Read Our Latest Stock Report on MO

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:MOGet Free Report) 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

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for Altria Group (NYSE:MO)

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