Research Analysts Offer Predictions for Altria Group’s Q3 2016 Earnings (MO)
Altria Group (NYSE:MO) – Stock analysts at Jefferies Group issued their Q3 2016 earnings per share (EPS) estimates for shares of Altria Group in a note issued to investors on Tuesday. Jefferies Group analyst O. Bennett anticipates that the firm will post earnings of $0.81 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $70.00 target price on the stock.
Altria Group (NYSE:MO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.01. The business earned $6.52 billion during the quarter, compared to the consensus estimate of $5.01 billion. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share.
MO has been the subject of several other research reports. Berenberg Bank began coverage on shares of Altria Group in a research note on Tuesday, June 14th. They issued a “buy” rating and a $74.00 price objective for the company. Zacks Investment Research lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Monday, July 4th. Vetr raised shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.87 price objective for the company in a research note on Monday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $71.00 price objective (up previously from $65.00) on shares of Altria Group in a research note on Monday, June 27th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $69.00 price objective (up previously from $64.00) on shares of Altria Group in a research note on Friday, July 15th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Altria Group currently has an average rating of “Buy” and a consensus target price of $69.44.
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Shares of Altria Group (NYSE:MO) traded up 0.82% during trading on Wednesday, reaching $62.50. 2,134,629 shares of the company’s stock were exchanged. The company has a market capitalization of $122.13 billion, a PE ratio of 21.70 and a beta of 0.52. The company has a 50 day moving average price of $64.10 and a 200-day moving average price of $64.99. Altria Group has a 52-week low of $56.15 and a 52-week high of $70.15.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 11th. Investors of record on Thursday, September 15th were paid a $0.61 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $2.44 dividend on an annualized basis and a yield of 3.94%. This is a boost from Altria Group’s previous quarterly dividend of $0.57. Altria Group’s payout ratio is presently 84.72%.
In other Altria Group news, SVP Charles N. Whitaker sold 11,000 shares of the company’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this link. Also, SVP James E. Dillard III sold 9,000 shares of the company’s stock in a transaction dated 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. 0.15% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of MO. First PREMIER Bank bought a new position in shares of Altria Group during the second quarter worth about $103,000. First Personal Financial Services raised its position in shares of Altria Group by 66.3% in the second quarter. First Personal Financial Services now owns 1,603 shares of the company’s stock worth $111,000 after buying an additional 639 shares during the last quarter. Tortoise Investment Management LLC raised its position in shares of Altria Group by 26.6% in the second quarter. Tortoise Investment Management LLC now owns 1,654 shares of the company’s stock worth $114,000 after buying an additional 348 shares during the last quarter. CapWealth Advisors LLC raised its position in shares of Altria Group by 6.3% in the first quarter. CapWealth Advisors LLC now owns 2,073 shares of the company’s stock worth $130,000 after buying an additional 123 shares during the last quarter. Finally, Zions Bancorporation raised its position in shares of Altria Group by 48.4% in the second quarter. Zions Bancorporation now owns 1,971 shares of the company’s stock worth $137,000 after buying an additional 643 shares during the last quarter. 61.29% of the stock is currently owned by hedge funds and other institutional investors.
Altria Group Company Profile
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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