Trade Report: The Jefferies Group Weighs in on Altria Group’s Q3 2016 Earnings (MO)

The Jefferies Group Weighs in on Altria Group’s Q3 2016 Earnings (MO)

Altria Group (NYSE:MO) – Equities research analysts at Jefferies Group issued their Q3 2016 earnings estimates for Altria Group in a research report issued on Tuesday. Jefferies Group analyst O. Bennett forecasts that the brokerage will post earnings of $0.81 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $70.00 price target on the stock.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The company 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 business earned $0.74 EPS. Altria Group’s revenue was down 1.4% compared to the same quarter last year.

Several other research analysts also recently commented on the stock. Citigroup Inc. reissued a “buy” rating and set a $72.00 price objective on shares of Altria Group in a report on Monday, September 26th. Vetr downgraded shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.67 price objective for the company. in a report on Thursday, September 22nd. Credit Agricole SA dropped their price objective on shares of Altria Group from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, September 15th. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Thursday, August 4th. Finally, Argus set a $73.00 price objective on shares of Altria Group and gave the company a “buy” rating in a report on Monday, August 1st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $69.44.

Altria Group (NYSE:MO) opened at 62.54 on Wednesday. Altria Group has a one year low of $56.15 and a one year high of $70.15. The stock has a market cap of $122.20 billion, a P/E ratio of 21.72 and a beta of 0.52. The company’s 50-day moving average price is $63.99 and its 200-day moving average price is $64.97.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th were given a dividend of $0.61 per share. The ex-dividend date was Tuesday, September 13th. This is a positive change from Altria Group’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.90%. Altria Group’s dividend payout ratio (DPR) is 84.72%.

In other news, SVP Charles N. Whitaker sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $66.53, for a total transaction of $731,830.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP James E. Dillard III sold 9,000 shares of the firm’s stock in a transaction that occurred 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. Insiders own 0.15% of the company’s stock.

Several institutional investors have recently modified their holdings of MO. Chevy Chase Trust Holdings Inc. raised its position in shares of Altria Group by 1.0% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,687,561 shares of the company’s stock worth $116,374,000 after buying an additional 17,417 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Altria Group by 1.9% in the first quarter. Envestnet Asset Management Inc. now owns 676,612 shares of the company’s stock valued at $42,396,000 after buying an additional 12,726 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Altria Group by 21.9% in the second quarter. Acadian Asset Management LLC now owns 2,517,741 shares of the company’s stock valued at $173,623,000 after buying an additional 452,444 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Altria Group by 6.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,932,109 shares of the company’s stock valued at $133,238,000 after buying an additional 109,612 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Altria Group by 4.5% in the second quarter. State of Alaska Department of Revenue now owns 268,676 shares of the company’s stock valued at $18,527,000 after buying an additional 11,624 shares during the last quarter. 61.29% of the stock is currently owned by institutional investors and hedge funds.

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