Equities research analysts expect Altria (NYSE:MO) to post sales of $4.62 billion for the current quarter, Zacks reports. Four analysts have made estimates for Altria’s earnings, with the highest sales estimate coming in at $4.66 billion and the lowest estimate coming in at $4.58 billion. Altria posted sales of $4.59 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.7%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that Altria will report full-year sales of $19.74 billion for the current financial year, with estimates ranging from $19.54 billion to $19.90 billion. For the next fiscal year, analysts forecast that the company will report sales of $20.21 billion per share, with estimates ranging from $19.87 billion to $20.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Altria.
Altria (NYSE:MO) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. The business had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Altria had a net margin of 39.97% and a return on equity of 50.01%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 EPS.
MO has been the topic of several recent research reports. Piper Jaffray set a $75.00 target price on shares of Altria and gave the company a “buy” rating in a research report on Monday. ValuEngine cut shares of Altria from a “hold” rating to a “sell” rating in a research report on Monday. Zacks Investment Research cut shares of Altria from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley decreased their target price on shares of Altria from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 18th. Finally, Citigroup cut shares of Altria from a “buy” rating to a “neutral” rating and set a $75.00 target price on the stock. in a research report on Wednesday, April 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $73.78.
MO stock traded down $1.27 during mid-day trading on Tuesday, hitting $55.30. The company had a trading volume of 13,878,007 shares, compared to its average volume of 8,417,671. The stock has a market cap of $108,762.70, a P/E ratio of 16.36, a PEG ratio of 1.66 and a beta of 0.62. Altria has a 12-month low of $54.83 and a 12-month high of $77.79. The company has a quick ratio of 0.31, a current ratio of 0.64 and a debt-to-equity ratio of 0.85.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 10th. Investors of record on Thursday, March 15th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 5.06%. This is an increase from Altria’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Wednesday, March 14th. Altria’s dividend payout ratio is presently 82.84%.
Altria declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $62.34, for a total transaction of $199,488.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Craig A. Johnson sold 14,953 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $66.59, for a total transaction of $995,720.27. Following the transaction, the chief executive officer now owns 64,809 shares in the company, valued at $4,315,631.31. The disclosure for this sale can be found here. Insiders have sold a total of 28,117 shares of company stock worth $1,821,707 over the last quarter. 0.11% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Altria by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 136,023,361 shares of the company’s stock worth $10,129,659,000 after acquiring an additional 2,690,270 shares in the last quarter. BlackRock Inc. grew its stake in Altria by 0.8% in the 4th quarter. BlackRock Inc. now owns 135,404,376 shares of the company’s stock worth $9,669,229,000 after acquiring an additional 1,140,353 shares in the last quarter. Capital World Investors grew its stake in Altria by 27.6% in the 2nd quarter. Capital World Investors now owns 41,157,755 shares of the company’s stock worth $3,065,018,000 after acquiring an additional 8,914,575 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Altria by 7.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 21,970,538 shares of the company’s stock worth $1,393,372,000 after acquiring an additional 1,561,120 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Altria by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 21,709,187 shares of the company’s stock worth $1,547,228,000 after acquiring an additional 629,732 shares in the last quarter. Institutional investors own 62.53% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Altria (MO) Expected to Post Quarterly Sales of $4.62 Billion” was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark law. The correct version of this news story can be viewed at https://www.dispatchtribunal.com/2018/04/25/altria-mo-expected-to-post-quarterly-sales-of-4-62-billion.html.
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
Get a free copy of the Zacks research report on Altria (MO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Altria Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria and related companies with MarketBeat.com's FREE daily email newsletter.