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

Altria Group (NYSE:MO) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Altria Group Price Performance

MO stock traded up $1.05 during trading hours on Friday, reaching $51.07. The stock had a trading volume of 12,662,503 shares, compared to its average volume of 8,285,990. The stock has a market capitalization of $87.14 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. The stock has a 50-day simple moving average of $47.07 and a 200 day simple moving average of $43.99. Altria Group has a fifty-two week low of $39.06 and a fifty-two week high of $51.40.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. Altria Group’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 earnings per share. On average, sell-side analysts forecast that Altria Group will post 5.11 EPS for the current fiscal year.

Altria Group Announces Dividend

The firm also recently declared 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. This represents a $3.92 dividend on an annualized basis and a yield of 7.68%. The ex-dividend date of this dividend was Friday, June 14th. Altria Group’s dividend payout ratio is 82.01%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MO. Argus upgraded shares of Altria Group to a hold rating in a research note on Friday, May 31st. Bank of America raised their price target 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. Stifel Nicolaus lifted their target price on shares of Altria Group from $50.00 to $54.00 and gave the stock a buy rating in a research report on Thursday. StockNews.com upgraded shares of Altria Group from a hold rating to a buy rating in a research report on Friday, June 28th. Finally, UBS Group lifted their target price on shares of Altria Group from $36.10 to $36.50 and gave the stock a sell rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $47.90.

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.