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

Altria Group (NYSE:MO) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 5.070-5.150 for the period, compared to the consensus EPS estimate of 5.100. The company issued revenue guidance of -. Altria Group also updated its FY24 guidance to $5.07-5.15 EPS.

Altria Group Stock Down 5.2 %

NYSE MO traded down $2.64 during mid-day trading on Wednesday, hitting $47.91. The stock had a trading volume of 861,546 shares, compared to its average volume of 10,612,374. The company has a market cap of $82.29 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 3.10 and a beta of 0.66. Altria Group has a 52-week low of $39.06 and a 52-week high of $50.85. The company has a 50 day simple moving average of $46.82 and a 200 day simple moving average of $43.83.

Altria Group (NYSE:MO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). Altria Group had a negative return on equity of 222.80% and a net margin of 34.81%. The business had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the prior year, the firm earned $1.31 earnings per share. Altria Group’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, equities analysts anticipate that Altria Group will post 5.11 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 14th were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.92 annualized dividend and a dividend yield of 8.18%. Altria Group’s dividend payout ratio is currently 82.01%.

Analysts Set New Price Targets

A number of brokerages have commented on MO. UBS Group raised their price target on Altria Group from $36.10 to $36.50 and gave the stock a sell rating in a research report on Monday, April 8th. Argus raised Altria Group to a hold rating in a research note on Friday, May 31st. Bank of America boosted their target price 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. Finally, StockNews.com raised shares of Altria Group from a hold rating to a buy rating in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $47.10.

Insider Activity

In related news, VP Charles N. Whitaker sold 22,487 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total value of $988,303.65. Following the completion of the sale, the vice president now directly owns 173,485 shares in the company, valued at $7,624,665.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

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.