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

Altria Group (NYSE:MO) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 5.050-5.170 for the period, compared to the consensus EPS estimate of 5.080. The company issued revenue guidance of -. Altria Group also updated its FY24 guidance to $5.05-$5.17 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. UBS Group increased their target price on Altria Group from $36.10 to $36.50 and gave the company a sell rating in a research report on Monday, April 8th. StockNews.com downgraded Altria Group from a buy rating to a hold rating in a research report on Sunday, April 14th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $50.00 target price on shares of Altria Group in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $46.90.

Altria Group Stock Performance

Shares of MO stock traded down $0.16 on Friday, hitting $43.38. The company had a trading volume of 13,794,252 shares, compared to its average volume of 11,969,122. The firm has a market cap of $74.51 billion, a P/E ratio of 9.08, a P/E/G ratio of 2.61 and a beta of 0.65. The stock’s 50-day moving average is $42.18 and its two-hundred day moving average is $41.47. Altria Group has a twelve month low of $39.06 and a twelve month high of $48.04.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.71 billion. Altria Group had a negative return on equity of 222.80% and a net margin of 34.81%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.18 earnings per share. Equities research analysts predict that Altria Group will post 5.11 EPS for the current year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, March 25th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Friday, March 22nd. This represents a $3.92 annualized dividend and a dividend yield of 9.04%. Altria Group’s payout ratio is 82.01%.

Altria Group announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.