Several other research analysts have also recently issued reports on MO. Morgan Stanley reduced their price objective on Altria Group from $65.00 to $63.00 and set an equal weight rating for the company in a research note on Tuesday, June 26th. Zacks Investment Research cut Altria Group from a buy rating to a hold rating in a research note on Friday, April 20th. Piper Jaffray Companies set a $75.00 price objective on Altria Group and gave the stock a buy rating in a research report on Monday, April 23rd. ValuEngine downgraded Altria Group from a sell rating to a strong sell rating in a report on Monday, May 14th. Finally, Royal Bank of Canada raised Altria Group from a sector perform rating to an outperform rating in a report on Monday, April 30th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $71.61.
Shares of Altria Group traded down $0.17, reaching $59.05, on Friday, Marketbeat reports. The stock had a trading volume of 4,284,102 shares, compared to its average volume of 7,296,359. The company has a market cap of $111.64 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 1.72 and a beta of 0.65. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.83. Altria Group has a 1 year low of $53.91 and a 1 year high of $74.38.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.01. Altria Group had a return on equity of 48.88% and a net margin of 42.00%. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the previous year, the company posted $0.85 EPS. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. sell-side analysts predict that Altria Group will post 4 earnings per share for the current year.
Altria Group declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
Several institutional investors and hedge funds have recently modified their holdings of MO. Massachusetts Financial Services Co. MA lifted its position in Altria Group by 60.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,636,235 shares of the company’s stock worth $912,131,000 after buying an additional 5,542,534 shares in the last quarter. FMR LLC grew its stake in Altria Group by 14.1% during the 2nd quarter. FMR LLC now owns 37,263,858 shares of the company’s stock worth $2,116,214,000 after purchasing an additional 4,613,088 shares in the last quarter. BlackRock Inc. grew its stake in Altria Group by 3.4% during the 2nd quarter. BlackRock Inc. now owns 138,589,215 shares of the company’s stock worth $7,870,481,000 after purchasing an additional 4,581,335 shares in the last quarter. Charles Schwab Investment Advisory Inc. acquired a new position in Altria Group during the 2nd quarter worth $178,215,000. Finally, Mackenzie Financial Corp grew its stake in Altria Group by 433.5% during the 4th quarter. Mackenzie Financial Corp now owns 3,151,406 shares of the company’s stock worth $225,042,000 after purchasing an additional 2,560,678 shares in the last quarter. 62.97% of the stock is currently owned by institutional investors and hedge funds.
About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
See Also: Earnings Per Share (EPS)
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