Altria Group (NYSE:MO) Releases Earnings Results, Beats Expectations By $0.04 EPS

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Altria Group (NYSE:MO) announced its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04, Briefing.com reports. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.34 billion. Altria Group had a net margin of 7.00% and a return on equity of 56.17%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 earnings per share. Altria Group updated its FY19 guidance to $4.19-4.27 EPS.

Shares of MO traded up $0.43 during mid-day trading on Friday, reaching $46.41. 5,522,956 shares of the company’s stock were exchanged, compared to its average volume of 10,315,709. The company has a quick ratio of 0.27, a current ratio of 0.56 and a debt-to-equity ratio of 2.53. The company has a 50-day simple moving average of $43.42 and a two-hundred day simple moving average of $47.52. Altria Group has a 52-week low of $39.30 and a 52-week high of $66.04. The company has a market cap of $86.40 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.72 and a beta of 0.41.

MO has been the subject of a number of recent analyst reports. TheStreet downgraded shares of Altria Group from a “b-” rating to a “c+” rating in a research report on Wednesday, August 14th. Argus set a $60.00 price objective on shares of Altria Group and gave the company a “buy” rating in a research report on Thursday, October 10th. ValuEngine cut shares of Altria Group from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Barclays set a $50.00 target price on shares of Altria Group and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Bank of America set a $54.00 target price on shares of Altria Group and gave the company a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Altria Group currently has a consensus rating of “Hold” and an average price target of $54.35.

Altria Group declared that its Board of Directors has authorized a share buyback program on Tuesday, July 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 1.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.

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Earnings History for Altria Group (NYSE:MO)

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