Altria Group (NYSE:MO) Releases Earnings Results, Beats Expectations By $0.02 EPS

by · The Markets Daily

Altria Group (NYSE:MO – Get Free Report) announced its quarterly earnings data on Thursday. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.02, Briefing.com reports. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. 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 Stock Down 1.1 %

NYSE MO traded down $0.59 on Friday, reaching $53.87. 10,985,628 shares of the stock traded hands, compared to its average volume of 9,907,085. The firm’s fifty day simple moving average is $51.39 and its 200 day simple moving average is $48.29. The company has a market cap of $91.91 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 2.92 and a beta of 0.65. Altria Group has a 12 month low of $39.25 and a 12 month high of $54.95.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.57%. The ex-dividend date was Monday, September 16th. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio (DPR) is currently 70.34%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MO shares. 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. UBS Group upped their price target on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. StockNews.com lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Bank of America reduced their target price on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.17.

Get Our Latest Stock Analysis on MO

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.

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