Altria Group (NYSE:MO) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Altria Group (NYSE:MO) posted its earnings results on Wednesday. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04), Briefing.com reports. The company had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the business earned $1.31 earnings per share. Altria Group updated its FY24 guidance to $5.07-5.15 EPS and its FY 2024 guidance to 5.070-5.150 EPS.

Altria Group Trading Down 3.0 %

MO opened at $49.01 on Thursday. Altria Group has a 1-year low of $39.06 and a 1-year high of $50.85. The business has a 50 day moving average of $46.87 and a 200-day moving average of $43.86. The stock has a market capitalization of $84.18 billion, a price-to-earnings ratio of 10.25, a P/E/G ratio of 3.10 and a beta of 0.66.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 14th were paid a $0.98 dividend. The ex-dividend date was Friday, June 14th. This represents a $3.92 dividend on an annualized basis and a yield of 8.00%. Altria Group’s payout ratio is presently 82.01%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Argus raised Altria Group to a “hold” rating in a research note on Friday, May 31st. UBS Group increased their target price on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a research report on Monday, April 8th. Finally, Bank of America upped their target price on Altria Group from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Altria Group has a consensus rating of “Hold” and a consensus price target of $47.10.

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.