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

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

Analyst Ratings Changes

MO has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price objective on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday. UBS Group raised their target price on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Citigroup upped their price target on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. 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. Finally, StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.17.

Altria Group Stock Performance

Shares of Altria Group stock traded down $0.59 on Friday, reaching $53.87. The company had a trading volume of 10,986,246 shares, compared to its average volume of 7,304,533. The firm’s 50 day moving average price is $51.42 and its two-hundred day moving average price is $48.43. Altria Group has a 52-week low of $39.25 and a 52-week high of $54.95. The firm has a market cap of $91.91 billion, a PE ratio of 9.10, a PEG ratio of 3.14 and a beta of 0.64.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The business 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 business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 earnings per share. As a group, sell-side analysts predict that Altria Group will post 5.11 EPS for the current year.

Altria Group Increases Dividend

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

Altria Group Company Profile

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.