Company Update (NYSE:MO): Altria Group Inc Reaffirms Full-Year Earnings Guidance
Altria Group Inc (NYSE:MO) reaffirms its guidance for 2016 full-year adjusted diluted earnings per share (EPS), which excludes the special items for the first half of 2016 as shown in Schedule 1, to be in the range of $3.01 to $3.07, representing a growth rate of 7.5% to 9.5% from an adjusted diluted EPS base of$2.80 in 2015, as shown in Schedule 1. This guidance does not include any impact from the anticipated Anheuser-Busch InBev SA/NV (AB InBev) and SABMiller plc (SABMiller) business combination, including effects from the anticipated reporting lag described in Altria’s 2016 second-quarter earnings press release, as the transaction remains subject to certain approvals. (Original Source)
Shares of Altria closed yesterday at $67.20, up $0.32 or 0.48%. MO has a 1-year high of $70.15 and a 1-year low of $52.15. The stock’s 50-day moving average is $66.93 and its 200-day moving average is $64.39.
On the ratings front, Altria has been the subject of a number of recent research reports. In a report issued on August 1, Argus analyst David Coleman maintained a Buy rating on MO, with a price target of $73, which implies an upside of 8.6% from current levels. Separately, on July 28, UBS’s Stephen Powers reiterated a Hold rating on the stock and has a price target of $69.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, David Coleman and Stephen Powers have a total average return of 5.4% and 1.6% respectively. Coleman has a success rate of 65.5% and is ranked #1219 out of 4147 analysts, while Powers has a success rate of 67% and is ranked #1739.
Overall, 2 research analysts have assigned a Hold rating and 2 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $72.00 which is 7.1% above where the stock closed yesterday.