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 Stock Performance

MO stock traded up $1.05 during trading on Friday, reaching $51.07. The company had a trading volume of 12,662,503 shares, compared to its average volume of 8,285,990. Altria Group has a twelve month low of $39.06 and a twelve month high of $51.40. The company has a market cap of $87.14 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. The firm has a 50-day simple moving average of $47.07 and a 200-day simple moving average of $43.97.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. Altria Group’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the firm earned $1.31 earnings per share. Sell-side analysts expect that Altria Group will post 5.11 earnings per share for the current year.

Altria Group Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently commented on MO shares. Bank of America upped their target price on Altria Group from $47.00 to $48.00 and gave the stock a neutral rating in a research note on Wednesday, July 10th. Stifel Nicolaus raised their target price on Altria Group from $50.00 to $54.00 and gave the company a buy rating in a research report on Thursday. StockNews.com raised Altria Group from a hold rating to a buy rating in a report on Friday, June 28th. Argus raised Altria Group to a hold rating in a report on Friday, May 31st. Finally, UBS Group upped their target price on Altria Group from $36.10 to $36.50 and gave the stock a sell rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target 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.