Altria Group (NYSE:MO) Releases Quarterly Earnings Results

Altria Group (NYSE:MO) announced its quarterly earnings results on Thursday. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.02, Briefing.com reports. The company 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 company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 earnings per share. Altria Group updated its FY24 guidance to $5.07-5.15 EPS and its FY 2024 guidance to 5.070-5.150 EPS.

Altria Group Trading Down 1.1 %

NYSE:MO opened at $53.87 on Friday. Altria Group has a 1-year low of $39.25 and a 1-year high of $54.95. The firm has a fifty day simple moving average of $51.42 and a 200 day simple moving average of $48.43. The stock has a market capitalization of $91.91 billion, a PE ratio of 9.10, a P/E/G ratio of 3.14 and a beta of 0.64.

Altria Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were paid a $1.02 dividend. The ex-dividend date was Monday, September 16th. This is a boost from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 7.57%. Altria Group’s dividend payout ratio (DPR) is currently 68.92%.

Wall Street Analyst Weigh In

MO has been the subject of a number of research reports. Citigroup increased their price objective on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Barclays increased their price objective on Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, September 9th. Bank of America decreased their price objective on Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday. Finally, UBS Group increased their price objective on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.17.

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.