British American Tobacco PLC (NYSE:BTI) – Equities research analysts at Jefferies Group boosted their FY2017 earnings estimates for British American Tobacco in a research note issued to investors on Friday. Jefferies Group analyst O. Bennett now expects that the company will post earnings of $3.90 per share for the year, up from their prior forecast of $3.75. Jefferies Group currently has a “Buy” rating and a $78.00 target price on the stock. Jefferies Group also issued estimates for British American Tobacco’s FY2018 earnings at $4.24 EPS, FY2019 earnings at $4.69 EPS and FY2020 earnings at $4.82 EPS.
Several other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of British American Tobacco from a “buy” rating to a “hold” rating in a research report on Thursday, December 14th. Cowen raised shares of British American Tobacco from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 26th. Finally, Goldman Sachs Group raised shares of British American Tobacco from a “neutral” rating to a “buy” rating in a research report on Monday, October 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $77.33.
The business also recently declared a None dividend, which will be paid on Tuesday, February 13th. Investors of record on Friday, December 29th will be issued a dividend of $0.581 per share. This represents a dividend yield of 1.73%. The ex-dividend date is Thursday, December 28th.
Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in British American Tobacco by 1,509.0% in the third quarter. Bank of New York Mellon Corp now owns 8,032,924 shares of the company’s stock valued at $501,659,000 after acquiring an additional 7,533,669 shares during the last quarter. Evercore Trust Company N.A. acquired a new stake in British American Tobacco in the third quarter valued at approximately $331,037,000. Thornburg Investment Management Inc. acquired a new stake in British American Tobacco in the third quarter valued at approximately $183,498,000. Legal & General Group Plc acquired a new stake in British American Tobacco in the third quarter valued at approximately $180,398,000. Finally, Epoch Investment Partners Inc. lifted its stake in British American Tobacco by 18,279.9% in the third quarter. Epoch Investment Partners Inc. now owns 2,311,827 shares of the company’s stock valued at $144,374,000 after acquiring an additional 2,299,249 shares during the last quarter. Institutional investors and hedge funds own 8.69% of the company’s stock.
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About British American Tobacco
British American Tobacco p.l.c. is a tobacco and next generation products company. The Company’s tobacco product range includes cigarettes, fine cut (roll-your-own and make-your-own tobacco) and Swedish-style snus. Its segments include Asia-Pacific, Americas, Western Europe, and Eastern Europe, Middle East and Africa (EEMEA).
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