Altria Group (NYSE:MO) Issues FY22 Earnings Guidance

Altria Group (NYSE:MOGet Rating) updated its FY22 earnings guidance on Thursday. The company provided EPS guidance of $4.79-$4.93 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.84.

A number of brokerages have issued reports on MO. Royal Bank of Canada lowered shares of Altria Group from an outperform rating to a sector perform rating and set a $53.00 price target on the stock. in a research note on Monday, March 28th. StockNews.com initiated coverage on shares of Altria Group in a research note on Thursday, March 31st. They set a buy rating on the stock. Bank of America lowered shares of Altria Group from a buy rating to a neutral rating and cut their target price for the stock from $56.00 to $50.00 in a research note on Wednesday, January 5th. Cowen upped their target price on shares of Altria Group from $51.00 to $53.00 in a research note on Thursday, April 7th. Finally, The Goldman Sachs Group upgraded shares of Altria Group from a neutral rating to a buy rating and upped their target price for the stock from $48.00 to $57.00 in a research note on Tuesday, March 22nd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $53.00.

Shares of MO opened at $54.92 on Thursday. The stock has a 50 day moving average price of $52.88 and a 200 day moving average price of $49.26. The company has a market capitalization of $99.55 billion, a price-to-earnings ratio of 41.29, a price-to-earnings-growth ratio of 2.93 and a beta of 0.59. Altria Group has a 52-week low of $42.53 and a 52-week high of $57.05.

Altria Group (NYSE:MOGet Rating) last announced its earnings results on Thursday, January 27th. The company reported $1.09 EPS for the quarter, meeting analysts’ consensus estimates of $1.09. The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5 billion. Altria Group had a net margin of 9.51% and a return on equity of 1,009.13%. The company’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 EPS. On average, equities research analysts predict that Altria Group will post 4.83 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 29th. Stockholders of record on Friday, March 25th will be issued a $0.90 dividend. The ex-dividend date is Thursday, March 24th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 6.55%. Altria Group’s payout ratio is 270.68%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. EP Wealth Advisors LLC increased its stake in Altria Group by 1.0% in the 4th quarter. EP Wealth Advisors LLC now owns 28,795 shares of the company’s stock valued at $1,365,000 after buying an additional 285 shares during the period. Chicago Partners Investment Group LLC increased its stake in Altria Group by 4.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 9,363 shares of the company’s stock valued at $469,000 after buying an additional 358 shares during the period. Richwood Investment Advisors LLC acquired a new position in shares of Altria Group during the 4th quarter worth $31,000. Carroll Investors Inc acquired a new position in shares of Altria Group during the 4th quarter worth $38,000. Finally, V Wealth Advisors LLC grew its stake in shares of Altria Group by 16.2% during the 4th quarter. V Wealth Advisors LLC now owns 8,329 shares of the company’s stock worth $394,000 after purchasing an additional 1,160 shares during the period. 59.01% of the stock is currently owned by institutional investors.

About Altria Group (Get Rating)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

See Also

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

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