Altria Group (NYSE:MO) Issues FY 2019 Earnings Guidance

Altria Group (NYSE:MO) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided EPS guidance of $4.15-4.27 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.19. Altria Group also updated its FY19 guidance to $4.15-4.27 EPS.

Shares of NYSE MO traded up $0.04 during midday trading on Friday, reaching $47.92. The stock had a trading volume of 280,927 shares, compared to its average volume of 5,867,016. The business’s 50-day simple moving average is $49.26. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.56 and a quick ratio of 0.39. The company has a market cap of $90.74 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 1.52 and a beta of 0.39. Altria Group has a 12-month low of $42.40 and a 12-month high of $66.04.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.10. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Altria Group had a net margin of 25.04% and a return on equity of 51.12%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 earnings per share. Sell-side analysts predict that Altria Group will post 4.18 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 14th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $3.20 annualized dividend and a yield of 6.68%. Altria Group’s payout ratio is 80.20%.

Altria Group declared that its board has authorized a stock buyback plan on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 1.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Several research firms recently weighed in on MO. Zacks Investment Research raised shares of Altria Group from a sell rating to a hold rating in a research note on Monday, April 8th. Morgan Stanley cut their target price on shares of Altria Group from $49.00 to $48.00 and set an underweight rating for the company in a research note on Wednesday. Royal Bank of Canada set a $68.00 target price on shares of Altria Group and gave the company a buy rating in a research note on Wednesday. Citigroup set a $45.00 target price on shares of Altria Group and gave the company a sell rating in a research note on Friday, April 26th. Finally, Goldman Sachs Group cut shares of Altria Group from a buy rating to a neutral rating and set a $49.86 target price for the company. in a research note on Friday, July 12th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $61.07.

In other Altria Group news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of Altria Group stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $52.48, for a total value of $104,960.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.

About Altria Group

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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