Altria Group (MO) Updates FY18 Earnings Guidance

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Altria Group (NYSE:MO) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.94-4.03 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.00.

Shares of Altria Group stock opened at $60.65 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.83. The firm has a market cap of $110.32 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 1.66 and a beta of 0.62. Altria Group has a 12-month low of $53.91 and a 12-month high of $74.38.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, July 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.01. The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a net margin of 42.00% and a return on equity of 48.88%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 EPS. analysts forecast that Altria Group will post 4 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Friday, September 14th will be given a dividend of $0.80 per share. This is an increase from Altria Group’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date is Thursday, September 13th. Altria Group’s payout ratio is presently 82.84%.

Altria Group declared that its Board of Directors has initiated a share buyback plan on Thursday, May 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

MO has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Altria Group from a hold rating to a sell rating in a research report on Monday, May 14th. Stifel Nicolaus reduced their price objective on shares of Altria Group from $78.00 to $65.00 and set a buy rating on the stock in a research report on Friday, July 27th. Jefferies Financial Group downgraded shares of Altria Group from a buy rating to a hold rating and set a $61.00 price objective on the stock. in a research report on Friday, August 24th. Piper Jaffray Companies set a $75.00 price objective on shares of Altria Group and gave the company a buy rating in a research report on Monday, July 23rd. Finally, ValuEngine downgraded shares of Altria Group from a sell rating to a strong sell rating in a research report on Monday, May 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $71.01.

In other news, Director Dinyar S. Devitre sold 3,165 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total transaction of $184,962.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

Altria Group Company Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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Earnings History and Estimates for Altria Group (NYSE:MO)

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