Wall Street analysts expect that Altria Group Inc (NYSE:MO) will report sales of $4.62 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Altria Group’s earnings. The highest sales estimate is $4.62 billion and the lowest is $4.61 billion. Altria Group posted sales of $4.59 billion during the same quarter last year, which would indicate a positive year over year growth rate of 0.7%. The company is scheduled to announce its next earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that Altria Group will report full year sales of $4.62 billion for the current year, with estimates ranging from $19.54 billion to $19.97 billion. For the next year, analysts forecast that the firm will post sales of $20.35 billion per share, with estimates ranging from $19.91 billion to $20.58 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Altria Group.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 EPS.
In other Altria Group news, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $62.34, for a total transaction of $199,488.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Craig A. Johnson sold 14,953 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $66.59, for a total transaction of $995,720.27. Following the sale, the chief executive officer now directly owns 64,809 shares in the company, valued at $4,315,631.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,117 shares of company stock worth $1,821,707. Insiders own 0.11% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MO. NewSquare Capital LLC increased its position in shares of Altria Group by 4,734.7% during the third quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock valued at $109,000 after buying an additional 106,530 shares during the period. Balentine LLC increased its position in shares of Altria Group by 32.4% during the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after buying an additional 357 shares during the period. Quantum Capital Management LLC NJ bought a new stake in shares of Altria Group during the third quarter valued at about $114,000. Northwest Investment Counselors LLC increased its position in shares of Altria Group by 557.0% during the third quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock valued at $115,000 after buying an additional 1,543 shares during the period. Finally, Oak Point Wealth Management bought a new stake in shares of Altria Group during the fourth quarter valued at about $120,000. 62.77% of the stock is currently owned by institutional investors and hedge funds.
Altria Group (MO) opened at $66.13 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.31 and a current ratio of 0.64. The stock has a market cap of $125,680.00, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.91 and a beta of 0.63. Altria Group has a fifty-two week low of $60.01 and a fifty-two week high of $77.79.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This is an increase from Altria Group’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 4.23%. Altria Group’s dividend payout ratio is 74.16%.
Altria Group announced that its board has approved a stock buyback plan on Thursday, February 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
About Altria Group
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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