Altria Group (NYSE:MO) updated its FY18 earnings guidance on Wednesday. The company provided EPS guidance of $3.90-4.03 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.99.
A number of brokerages have recently issued reports on MO. Berenberg Bank raised shares of Altria Group from a hold rating to a buy rating and increased their price target for the stock from $60.01 to $71.00 in a report on Tuesday, December 19th. Vetr downgraded shares of Altria Group from a hold rating to a sell rating and set a $67.97 price target on the stock. in a report on Monday, December 11th. Zacks Investment Research downgraded shares of Altria Group from a hold rating to a sell rating in a research note on Tuesday, January 2nd. Wells Fargo & Co raised their target price on shares of Altria Group from $80.00 to $85.00 and gave the company an outperform rating in a research note on Thursday, January 4th. Finally, Piper Jaffray Companies raised their target price on shares of Altria Group from $76.00 to $81.00 and gave the company an overweight rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $73.66.
Shares of Altria Group (NYSE MO) opened at $64.24 on Wednesday. The firm has a market cap of $122,490.00, a P/E ratio of 12.04, a P/E/G ratio of 1.91 and a beta of 0.53. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.64 and a quick ratio of 0.31. Altria Group has a one year low of $60.01 and a one year high of $77.79.
Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. The firm had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.80 billion. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. equities analysts anticipate that Altria Group will post 4 EPS for the current fiscal year.
Altria Group declared that its board has approved a stock repurchase program on Thursday, February 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other Altria Group news, CEO Craig A. Johnson sold 14,953 shares of Altria Group stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $66.59, for a total transaction of $995,720.27. Following the transaction, the chief executive officer now directly owns 64,809 shares of the company’s stock, valued at $4,315,631.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James E. Dillard III sold 6,500 shares of Altria Group stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $63.13, for a total transaction of $410,345.00. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Altria Group by 2.0% during the second quarter. Vanguard Group Inc. now owns 136,023,361 shares of the company’s stock worth $10,129,659,000 after acquiring an additional 2,690,270 shares in the last quarter. BlackRock Inc. raised its stake in shares of Altria Group by 7.6% during the second quarter. BlackRock Inc. now owns 127,525,988 shares of the company’s stock worth $9,496,859,000 after acquiring an additional 8,969,677 shares in the last quarter. Capital World Investors raised its stake in shares of Altria Group by 27.6% during the second quarter. Capital World Investors now owns 41,157,755 shares of the company’s stock worth $3,065,018,000 after acquiring an additional 8,914,575 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Altria Group by 21,647.0% during the second quarter. Janus Henderson Group PLC now owns 19,831,702 shares of the company’s stock worth $1,476,867,000 after acquiring an additional 19,740,509 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Altria Group by 10.8% during the second quarter. UBS Asset Management Americas Inc. now owns 6,242,688 shares of the company’s stock worth $464,893,000 after acquiring an additional 609,757 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.
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Altria Group Company Profile
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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