Altria Group (NYSE:MO) Releases FY24 Earnings Guidance

Altria Group (NYSE:MO) updated its FY24 earnings guidance on Thursday. 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.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America lowered their target price on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Citigroup upped their target price on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Barclays upped their price objective on shares of Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, September 9th. StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Stifel Nicolaus upped their price objective on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.17.

Altria Group Price Performance

Shares of NYSE MO opened at $53.87 on Friday. The company’s 50 day simple moving average is $51.42 and its 200 day simple moving average is $48.43. Altria Group has a fifty-two week low of $39.25 and a fifty-two week high of $54.95. The firm has a market capitalization of $91.91 billion, a P/E ratio of 9.10, a P/E/G ratio of 3.14 and a beta of 0.64.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same period in the prior year, the business posted $1.28 earnings per share. Altria Group’s revenue was up 18.6% compared to the same quarter last year. Sell-side analysts expect that Altria Group will post 5.11 EPS for the current fiscal year.

Altria Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were issued a $1.02 dividend. The ex-dividend date was Monday, September 16th. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 7.57%. Altria Group’s dividend payout ratio (DPR) is 68.92%.

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.