Altria Group (NYSE:MO) Issues 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

Several analysts have recently commented on the stock. StockNews.com lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. UBS Group boosted their target price on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research report on Monday, September 9th. Citigroup upped their price target on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Stifel Nicolaus lifted their price objective on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. Finally, Bank of America decreased their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $51.17.

Altria Group Stock Down 1.1 %

NYSE:MO traded down $0.59 during midday trading on Friday, reaching $53.87. The stock had a trading volume of 10,986,246 shares, compared to its average volume of 7,304,533. The stock has a market cap of $91.91 billion, a P/E ratio of 9.10, a P/E/G ratio of 3.14 and a beta of 0.64. Altria Group has a 12-month low of $39.25 and a 12-month high of $54.95. The firm has a fifty day simple moving average of $51.42 and a two-hundred day simple moving average of $48.43.

Altria Group (NYSE:MO) last released 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 firm 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%. The firm’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 earnings per share. On average, sell-side analysts anticipate that Altria Group will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 7.57%. Altria Group’s dividend payout ratio is currently 68.92%.

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.