Altria Group (NYSE:MO) Issues FY24 Earnings Guidance

Altria Group (NYSE:MO) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $5.07-5.15 for the period, compared to the consensus EPS estimate of $5.10. Altria Group also updated its FY 2024 guidance to 5.070-5.150 EPS.

Altria Group Price Performance

Shares of MO traded up $1.05 during midday trading on Friday, reaching $51.07. 12,662,503 shares of the stock were exchanged, compared to its average volume of 8,285,990. The company has a market capitalization of $87.14 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 3.07 and a beta of 0.66. Altria Group has a twelve month low of $39.06 and a twelve month high of $51.40. The business’s 50-day moving average price is $47.07 and its 200 day moving average price is $43.97.

Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The business had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The business’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the business posted $1.31 earnings per share. As a group, equities research analysts expect that Altria Group will post 5.11 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th were paid a dividend of $0.98 per share. The ex-dividend date was Friday, June 14th. This represents a $3.92 annualized dividend and a dividend yield of 7.68%. Altria Group’s dividend payout ratio (DPR) is 82.01%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MO shares. Stifel Nicolaus upped their price target on Altria Group from $50.00 to $54.00 and gave the stock a buy rating in a research note on Thursday. Bank of America lifted their price objective on Altria Group from $47.00 to $48.00 and gave the company a neutral rating in a report on Wednesday, July 10th. UBS Group raised 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. StockNews.com upgraded Altria Group from a hold rating to a buy rating in a research report on Friday, June 28th. Finally, Argus raised shares of Altria Group to a hold rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $47.90.

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.