Altria Group Inc. (NYSE: MO) Stock Forecast 2024: $58 Per Share With Bullish Signs

In today’s recent session, 4.5 million shares of the Altria Group Inc. (NYSE:MO) have been traded, and its beta is 0.68. Most recently the company’s share price was $43.45, and it changed around -$0.17 or -0.39% from the last close, which brings the market valuation of the company to $76.62B. MO at last check was trading at a discount to its 52-week high of $48.04, offering almost -10.56% off that amount. The share price’s 52-week low was $39.06, which indicates that the recent value has risen by an impressive 10.1% since then. We note from Altria Group Inc.’s average daily trading volume that its 10-day average is 18.48 million shares, with the 3-month average coming to 11.75 million.

Altria Group Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 2.62. If we narrow it down even further, the data shows that 3 out of 14 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 6 recommended MO as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Altria Group Inc. is expected to report earnings per share of $1.15 for the current quarter.

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Altria Group Inc. (NYSE:MO) trade information

Instantly MO has been showing red trend so far today with a performance of -0.39% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 7.71% year-to-date, but still up 1.09% over the last five days. On the other hand, Altria Group Inc. (NYSE:MO) is 6.21% up in the 30-day period. We can see from the shorts that 14.53 million shares have been sold at a short interest cover period of 1.14 day(s).

The consensus price target as assigned by Wall Street analysts is $49.4, which translates to bulls needing to increase their stock price by 12.04% from its current value. Analyst projections state that MO is forecast to be at a low of $36 and a high of $58.

Altria Group Inc. (MO) estimates and forecasts

Altria Group Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 3.11 percent over the past six months and at a 2.63% annual growth rate that is well above the industry average of 1.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -2.50% in revenue this quarter, and will report an increase of 0.80% in the next quarter. The year-over-year growth rate is expected to be 0.20%, up from the previous year.

Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $4.73 billion in revenue for the current quarter. 8 analysts expect Altria Group Inc. to make $5.39 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $4.9 billion and $5.44 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -3.50%. Forecasts for the next quarter put sales growth at -1.00%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 4.39%. Altria Group Inc. earnings are expected to increase by 2.27% in 2024, but the outlook is positive 2.80% per year for the next five years.

MO Dividends

Altria Group Inc.’s next quarterly earnings report is expected to be released on April 25. The annual dividend yield of the stock is 8.93 percent and its annual dividend per share was 3.88. It is important to note, however, that the 8.93% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Altria Group Inc. (NYSE:MO)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.09% of Altria Group Inc. shares, and 57.35% of them are in the hands of institutional investors. The stock currently has a share float of 57.41%. Altria Group Inc. stock is held by 2,276 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 9.06% of the shares, which is about 159.71 million shares worth $6.92 billion.

Blackrock Inc., with 7.17% or 126.4 million shares worth $5.48 billion as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 55.35 million shares worth $2.4 billion, making up 3.14% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 43.2 million shares worth around $1.87 billion, which represents about 2.45% of the total shares outstanding.