Altria Group (MO) Issues FY16 Earnings Guidance
Altria Group (NYSE:MO) issued an update on its FY16 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.98 to $3.04 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.05.
Altria Group (NYSE:MO) traded up 0.0714% during mid-day trading on Tuesday, reaching $61.7941. 4,515,112 shares of the company’s stock traded hands. The stock has a market capitalization of $120.75 billion, a PE ratio of 21.4563 and a beta of 0.52. Altria Group has a 52 week low of $56.15 and a 52 week high of $70.15. The stock’s 50 day moving average is $64.23 and its 200-day moving average is $65.01.
Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.01. The company earned $6.52 billion during the quarter, compared to analyst estimates of $5.01 billion. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. Altria Group’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. On average, equities analysts anticipate that Altria Group will post $3.05 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 3.95%. The ex-dividend date is Tuesday, September 13th. This is a positive change from Altria Group’s previous quarterly dividend of $0.57. Altria Group’s dividend payout ratio (DPR) is 84.72%.
MO has been the topic of several research reports. Citigroup Inc. reissued a buy rating and set a $72.00 price target on shares of Altria Group in a research report on Monday, September 26th. Zacks Investment Research cut shares of Altria Group from a buy rating to a hold rating in a research report on Monday, July 4th. Credit Agricole SA reduced their price target on shares of Altria Group from $69.00 to $68.00 and set an outperform rating on the stock in a research report on Thursday, September 15th. Vetr cut shares of Altria Group from a strong-buy rating to a buy rating and set a $72.40 price target on the stock. in a research report on Monday, August 15th. Finally, Berenberg Bank initiated coverage on shares of Altria Group in a research report on Tuesday, June 14th. They set a buy rating and a $74.00 price target on the stock. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Altria Group presently has a consensus rating of Buy and a consensus target price of $69.44.
In other news, SVP Charles N. Whitaker sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $66.53, for a total transaction of $731,830.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP James E. Dillard III sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total transaction of $600,120.00. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Associated Banc Corp raised its position in shares of Altria Group by 0.9% in the second quarter. Associated Banc Corp now owns 111,400 shares of the company’s stock worth $7,682,000 after buying an additional 1,041 shares during the period. Crawford Investment Counsel Inc. raised its position in shares of Altria Group by 6.8% in the second quarter. Crawford Investment Counsel Inc. now owns 173,756 shares of the company’s stock worth $11,982,000 after buying an additional 11,008 shares during the period. Atlantic Trust Group LLC raised its position in shares of Altria Group by 8.5% in the second quarter. Atlantic Trust Group LLC now owns 187,541 shares of the company’s stock worth $12,932,000 after buying an additional 14,666 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Altria Group by 20.8% in the second quarter. Canada Pension Plan Investment Board now owns 2,700,943 shares of the company’s stock worth $186,257,000 after buying an additional 465,513 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in shares of Altria Group during the second quarter worth about $2,596,000. Institutional investors and hedge funds own 61.29% of the company’s stock.
About Altria Group
Altria Group, Inc is a holding company. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.
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