Brokerages Expect Altria Group (MO) Will Post Earnings of $0.87 Per Share
Equities research analysts predict that Altria Group (NYSE:MO) will announce earnings of $0.87 per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Altria Group’s earnings. The lowest EPS estimate is $0.85 and the highest is $0.89. Altria Group posted earnings of $0.82 per share during the same quarter last year, which indicates a positive year over year growth rate of 6.1%. The business is scheduled to announce its next quarterly earnings results before the market opens on Thursday, October 26th.
According to Zacks, analysts expect that Altria Group will report full-year earnings of $3.28 per share for the current fiscal year, with EPS estimates ranging from $3.27 to $3.30. For the next year, analysts forecast that the company will report earnings of $3.56 per share, with EPS estimates ranging from $3.50 to $3.59. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Altria Group.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.01). The company had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 earnings per share.
A number of analysts recently issued reports on the company. Zacks Investment Research downgraded Altria Group from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.89 price objective for the company. in a research report on Friday, October 13th. Royal Bank Of Canada reissued a “hold” rating and set a $62.00 price objective on shares of Altria Group in a research report on Tuesday, October 3rd. Cowen and Company raised Altria Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $64.00 to $71.00 in a research report on Tuesday, September 26th. Finally, BidaskClub downgraded Altria Group from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. Altria Group presently has an average rating of “Hold” and an average price target of $71.99.
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Shares of Altria Group (NYSE:MO) traded up 0.98% during mid-day trading on Friday, hitting $65.00. 6,430,296 shares of the stock were exchanged. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79. The stock has a market cap of $125.32 billion, a price-to-earnings ratio of 8.57 and a beta of 0.64. The company has a 50-day moving average price of $63.47 and a 200-day moving average price of $69.30.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Thursday, September 14th. This is a boost from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s dividend payout ratio (DPR) is presently 34.83%.
Altria Group declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 0.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In related news, Director Dinyar S. Devitre sold 32,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $61.22, for a total transaction of $1,959,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Martin J. Barrington sold 15,300 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the sale, the chief executive officer now owns 701,074 shares of the company’s stock, valued at approximately $45,590,842.22. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MO. Sterling Investment Advisors Ltd. lifted its stake in Altria Group by 133.3% during the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after purchasing an additional 800 shares during the last quarter. Solaris Asset Management LLC lifted its stake in Altria Group by 65.7% during the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock worth $105,000 after purchasing an additional 557 shares during the last quarter. CKW Financial Group purchased a new stake in Altria Group during the second quarter worth approximately $109,000. Balentine LLC lifted its stake in Altria Group by 32.4% during the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after purchasing an additional 357 shares during the last quarter. Finally, Perigon Wealth Management LLC lifted its stake in Altria Group by 4.7% during the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock worth $118,000 after purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 61.82% of the company’s stock.
Altria Group Company Profile
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. 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 cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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