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

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

Altria Group Stock Down 0.4 %

Altria Group stock traded down $0.16 during midday trading on Friday, hitting $43.38. The company’s stock had a trading volume of 13,794,252 shares, compared to its average volume of 11,969,122. The stock’s 50-day moving average price is $42.18 and its 200-day moving average price is $41.47. Altria Group has a 12 month low of $39.06 and a 12 month high of $48.04. The company has a market capitalization of $74.51 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 2.61 and a beta of 0.65.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.18 EPS. As a group, equities analysts anticipate that Altria Group will post 5.11 EPS for the current year.

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be paid a $0.98 dividend. The ex-dividend date 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 approved a stock buyback plan on Thursday, February 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have commented on MO. StockNews.com downgraded Altria Group from a buy rating to a hold rating in a report on Sunday, April 14th. Stifel Nicolaus reiterated a buy rating and set a $50.00 price target on shares of Altria Group in a report on Monday, March 25th. Finally, UBS Group increased their price target on Altria Group from $36.10 to $36.50 and gave the company a sell rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $46.90.

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.