Altria Group (NYSE:MO) Issues FY24 Earnings Guidance

Altria Group (NYSE:MO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.07-5.15 for the period, compared to the consensus earnings per share estimate of $5.10. Altria Group also updated its FY 2024 guidance to 5.070-5.150 EPS.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup upped their price objective on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Barclays upped their target price on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, September 9th. UBS Group lifted their price target on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Finally, Bank of America lowered their price objective on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Two equities 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.17.

Altria Group Trading Down 1.1 %

MO traded down $0.59 on Friday, hitting $53.87. 10,986,246 shares of the company’s stock traded hands, compared to its average volume of 7,304,533. The company’s 50 day simple moving average is $51.42 and its 200-day simple moving average is $48.43. Altria Group has a one year low of $39.25 and a one year high of $54.95. The firm has a market cap of $91.91 billion, a price-to-earnings ratio of 9.10, a P/E/G ratio of 3.14 and a beta of 0.64.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.02. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. Altria Group’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.28 EPS. As a group, equities analysts anticipate that Altria Group will post 5.11 EPS for the current fiscal year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were paid a $1.02 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.98. 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. Altria Group’s dividend payout ratio (DPR) is presently 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.