Altria Group (NYSE:MO) issued an update on its FY16 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.98 to $3.04 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.05.
Altria Group (NYSE:MO) opened at 61.99 on Wednesday. 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 price is $64.10 and its 200 day moving average price is $64.99. The firm has a market cap of $121.13 billion, a price-to-earnings ratio of 21.52 and a beta of 0.52.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.01. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The firm had revenue of $6.52 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the company earned $0.74 EPS. The company’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Altria Group will post $3.05 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 11th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was 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%.
A number of equities analysts have commented on MO shares. Vetr lowered Altria Group from a strong-buy rating to a buy rating and set a $72.40 price objective on the stock. in a research note on Monday, August 15th. Zacks Investment Research upgraded Altria Group from a hold rating to a buy rating and set a $74.00 price target on the stock in a research note on Thursday, August 4th. Argus set a $73.00 price target on Altria Group and gave the company a buy rating in a research note on Monday, August 1st. Stifel Nicolaus reiterated a buy rating and issued a $71.00 price target (up previously from $65.00) on shares of Altria Group in a research note on Monday, June 27th. Finally, Berenberg Bank initiated coverage on Altria Group in a research note on Tuesday, June 14th. They issued 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 assigned a buy rating to the company’s stock. Altria Group presently has a consensus rating of Buy and an average target price of $69.44.
In other Altria Group news, SVP Charles N. Whitaker sold 11,000 shares of Altria Group stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $66.53, for a total transaction of $731,830.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP James E. Dillard III sold 9,000 shares of Altria Group stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total value of $600,120.00. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in MO. Associated Banc Corp raised its position in Altria Group by 0.9% in the second quarter. Associated Banc Corp now owns 111,400 shares of the company’s stock valued at $7,682,000 after buying an additional 1,041 shares during the period. Crawford Investment Counsel Inc. raised its position in Altria Group by 6.8% in the second quarter. Crawford Investment Counsel Inc. now owns 173,756 shares of the company’s stock valued at $11,982,000 after buying an additional 11,008 shares during the period. Atlantic Trust Group LLC raised its position in Altria Group by 8.5% in the second quarter. Atlantic Trust Group LLC now owns 187,541 shares of the company’s stock valued at $12,932,000 after buying an additional 14,666 shares during the period. Canada Pension Plan Investment Board raised its position in 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 valued at $186,257,000 after buying an additional 465,513 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in Altria Group during the second quarter valued at $2,596,000. 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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