Altria Group, Inc. (NYSE:MO – Get Rating) – Equity research analysts at Jefferies Financial Group have raised their fiscal 2024 earnings per share (EPS) estimates for Altria Group in a published research note to investors on Wednesday, August 17. Jefferies Financial Group analyst O. Bennett now expects the company to post earnings of $5.65 per share for the year, up from his previous forecast of $5.62. The consensus estimate for Altria Group’s current full-year earnings is $4.86 per share. Jefferies Financial Group also released Altria Group earnings estimates for fiscal year 2025 at $6.09 EPS.
Altria Group (NYSE:MO – Get Rating) last reported quarterly earnings data on Thursday, July 28. The company reported EPS of $1.26 for the quarter, beating analyst consensus estimates of $1.25 by $0.01. The company posted revenue of $5.37 billion in the quarter, versus analyst estimates of $5.42 billion. Altria Group recorded a negative return on equity of 488.86% and a net margin of 6.88%. The company’s quarterly revenue fell 4.3% from the same quarter last year. During the same period last year, the company posted EPS of $1.23.
A number of other stock analysts also commented on MO. Deutsche Bank Aktiengesellschaft cut its price target on Altria Group from $60.00 to $46.00 and set a “buy” rating on the stock in a Friday July 1 research note. Morgan Stanley upgraded Altria Group from an “underweight” rating to an “equally weighted” rating and cut its price target for the stock from $47.00 to $43.00 in a Friday research report June 24. Cowen cut his price target on Altria Group from $56.00 to $45.00 and set a “market performance” rating for the company in a Monday, June 27 research report. Sanford C. Bernstein upgraded Altria Group from an “outperforming” rating to a “market performing” rating and cut its price target for the company from $58.00 to $53.00 in a research report of Tuesday, May 10. Finally, StockNews.com downgraded Altria Group from a “buy” rating to a “hold” rating in a Saturday, August 6 research rating. One research analyst gave the stock a sell rating, seven gave the company a hold rating and two gave the company a buy rating. Based on MarketBeat data, Altria Group currently has an average rating of “Hold” and an average price target of $47.00.
Altria Group Stock up 0.4%
NYSE MO shares opened at $45.61 on Thursday. The company has a market capitalization of $82.14 billion, a P/E ratio of 47.02, a P/E/G ratio of 2.35 and a beta of 0.62. Altria Group has a 12-month low of $41.00 and a 12-month high of $57.05. The company’s 50-day moving average is $43.74 and its two-hundred-day moving average is $49.64.
Institutional investors weigh on the Altria group
Institutional investors and hedge funds have recently changed their positions in the company. Dean Investment Associates LLC increased its stake in Altria Group shares by 1.0% during the second quarter. Dean Investment Associates LLC now owns 89,054 shares of the company worth $3,720,000 after acquiring 855 additional shares in the last quarter. Formidable Asset Management LLC increased its stake in Altria group shares by 0.9% in the second quarter. Formidable Asset Management LLC now owns 75,260 shares of the company worth $3,159,000 after purchasing an additional 697 shares in the last quarter. Verity & Verity LLC increased its stake in Altria Group shares by 1.5% in the second quarter. Verity & Verity LLC now owns 209,602 shares of the company worth $8,755,000 after purchasing 3,009 additional shares in the last quarter. Systematic Alpha Investments LLC increased its stake in Altria Group by 6.2% during the second quarter. Systematic Alpha Investments LLC now owns 225,838 shares of the company valued at $9,433,000 after purchasing an additional 13,200 shares in the last quarter. Finally, Nomura Holdings Inc. increased its stake in Altria Group by 51.1% during the second quarter. Nomura Holdings Inc. now owns 52,565 shares of the company valued at $2,305,000 after purchasing an additional 17,782 shares in the last quarter. Institutional investors hold 59.05% of the company’s shares.
Altria Group Company Profile
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Altria Group, Inc, through its subsidiaries, manufactures and sells smoking and oral tobacco products in the United States. The company supplies cigarettes primarily under the Marlboro brand; cigars and pipe tobacco primarily under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal and Husky brands, as well as supply on! oral nicotine sachets.
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