British American Tobacco (NYSE:BTI) Issues Quarterly Earnings Results, Misses Estimates By $1.10 EPS

British American Tobacco (NYSE:BTI) announced its quarterly earnings results on Wednesday. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($1.10), FiscalAI reports. The business had revenue of $8.10 billion for the quarter, compared to analysts’ expectations of $16.42 billion.

British American Tobacco Price Performance

Shares of BTI stock traded down $1.39 on Thursday, hitting $61.68. 5,073,178 shares of the stock were exchanged, compared to its average volume of 4,549,523. The business has a 50-day moving average of $61.28 and a 200 day moving average of $60.24. British American Tobacco has a fifty-two week low of $49.88 and a fifty-two week high of $67.30. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66.

Analyst Ratings Changes

Several brokerages have recently commented on BTI. Morgan Stanley reissued an “overweight” rating on shares of British American Tobacco in a report on Monday, June 8th. Wall Street Zen cut British American Tobacco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a report on Thursday, May 14th. Weiss Ratings raised shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Finally, BTIG Research assumed coverage on shares of British American Tobacco in a research report on Tuesday, July 21st. They set a “buy” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, British American Tobacco currently has an average rating of “Moderate Buy” and an average target price of $51.00.

Institutional Trading of British American Tobacco

A number of institutional investors have recently made changes to their positions in BTI. AQR Capital Management LLC increased its stake in British American Tobacco by 35.2% in the 1st quarter. AQR Capital Management LLC now owns 27,914 shares of the company’s stock valued at $1,155,000 after buying an additional 7,270 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of British American Tobacco by 42.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,455 shares of the company’s stock worth $400,000 after buying an additional 2,521 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of British American Tobacco by 10.2% in the 2nd quarter. Rhumbline Advisers now owns 6,017 shares of the company’s stock valued at $285,000 after acquiring an additional 559 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of British American Tobacco by 58.6% in the second quarter. Baird Financial Group Inc. now owns 14,853 shares of the company’s stock valued at $703,000 after acquiring an additional 5,486 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in shares of British American Tobacco by 5.4% in the second quarter. Brown Advisory Inc. now owns 15,967 shares of the company’s stock valued at $756,000 after acquiring an additional 816 shares during the last quarter. Institutional investors own 16.16% of the company’s stock.

British American Tobacco Company Profile

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world’s largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT’s core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.