Altria Group (NYSE:MO) issued an update on its FY16 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.98 to $3.04 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.05.
Altria Group (NYSE:MO) opened at 62.54 on Thursday. Altria Group has a 1-year low of $56.15 and a 1-year high of $70.15. The stock’s 50 day moving average is $63.99 and its 200-day moving average is $64.97. The firm has a market capitalization of $122.20 billion, a P/E ratio of 21.72 and a beta of 0.52.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.01. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. The business had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts forecast that Altria Group will post $3.05 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 11th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.61 per share. The ex-dividend date was Tuesday, September 13th. This represents a $2.44 annualized dividend and a yield of 3.90%. This is an increase from Altria Group’s previous quarterly dividend of $0.57. Altria Group’s payout ratio is currently 84.72%.
Several equities analysts have weighed in on MO shares. Zacks Investment Research downgraded shares of Altria Group from a buy rating to a hold rating in a report on Wednesday, August 3rd. Vetr downgraded shares of Altria Group from a strong-buy rating to a buy rating and set a $72.40 price target on the stock. in a report on Monday, August 15th. Goldman Sachs Group Inc. reaffirmed a neutral rating and set a $69.00 price target (up previously from $64.00) on shares of Altria Group in a report on Friday, July 15th. Citigroup Inc. reaffirmed a buy rating and set a $72.00 price target on shares of Altria Group in a report on Monday, September 26th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $71.00 price target (up previously from $65.00) on shares of Altria Group in a report on Monday, June 27th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $69.44.
In related news, SVP Charles N. Whitaker sold 11,000 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $66.53, for a total value of $731,830.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP James E. Dillard III sold 9,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total transaction of $600,120.00. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Janus Capital Management LLC boosted its position in Altria Group by 16.5% in the second quarter. Janus Capital Management LLC now owns 19,024,943 shares of the company’s stock worth $1,311,960,000 after buying an additional 2,688,986 shares during the period. FMR LLC boosted its position in Altria Group by 10.7% in the second quarter. FMR LLC now owns 25,539,336 shares of the company’s stock worth $1,761,192,000 after buying an additional 2,464,718 shares during the period. Capital World Investors boosted its position in Altria Group by 9.6% in the second quarter. Capital World Investors now owns 19,567,110 shares of the company’s stock worth $1,349,348,000 after buying an additional 1,713,910 shares during the period. Alliancebernstein L.P. boosted its position in Altria Group by 12.7% in the second quarter. Alliancebernstein L.P. now owns 14,602,810 shares of the company’s stock worth $1,007,010,000 after buying an additional 1,645,815 shares during the period. Finally, APG Asset Management N.V. boosted its position in Altria Group by 55.0% in the second quarter. APG Asset Management N.V. now owns 3,393,486 shares of the company’s stock worth $234,015,000 after buying an additional 1,203,780 shares during the period. Institutional investors own 61.29% of the company’s stock.
About Altria Group