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

Altria Group (NYSE:MO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 5.070-5.150 for the period, compared to the consensus EPS 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

Shares of MO stock traded up $3.79 on Thursday, hitting $54.29. The stock had a trading volume of 10,575,231 shares, compared to its average volume of 9,825,215. The firm has a market capitalization of $92.63 billion, a P/E ratio of 9.27, a P/E/G ratio of 2.89 and a beta of 0.65. Altria Group has a 1 year low of $39.25 and a 1 year high of $54.95. The company’s 50 day moving average price is $51.34 and its 200-day moving average price is $48.25.

Altria Group (NYSE:MO) last issued its quarterly earnings results 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). Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the company earned $1.31 EPS. Altria Group’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities analysts forecast that Altria Group will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were issued a dividend of $1.02 per share. This is an increase from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date was Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 7.52%. Altria Group’s dividend payout ratio is 70.34%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MO shares. UBS Group upped their price target on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Bank of America cut their price target on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Stifel Nicolaus upped their price target on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays upped their price objective on Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, September 9th. Finally, StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Altria Group has an average rating of “Hold” and a consensus target price of $48.20.

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.