Altria’s Forecast Misses Following Mixed Q4 Results

From StockNews.com: Altria Group Inc (NYSE:MO) early Wednesday posted mixed fourth quarter earnings results and offered an outlook that fell short of expectations.

The Richmond, VA-based tobacco giant reported adjusted Q4 EPS of $0.68, which was $0.01 better than the Wall Street consensus estimate of $0.67. Revenues edged 0.1% higher from last year to $4.73 billion, missing analysts’ $4.8 billion view.

Looking ahead, Altria forecast 2017 full-year EPS to rise 7.5% to 9.5%, which equates to $3.26 to $3.32. That would fall short of analysts’ current estimate of $3.34 for the year.

The company commented via press release:

“Altria had another outstanding year,” said Marty Barrington, Altria’s Chairman, Chief Executive Officer and President. “We grew our earnings in line with our long-term objectives while returning a large amount of cash to shareholders, improving our balance sheet and strengthening our organizational capability, thus positioning Altria to continue to deliver on our long-term financial goals. In 2016, Altria’s total return to shareholders of 20.5% outpaced both the S&P 500 and the S&P Food, Beverage and Tobacco Index, marking the fourth consecutive year that total shareholder return exceeded 20%.”

Altria Group Inc shares were unchanged in premarket trading Wednesday. Year-to-date, MO has gained 5.26%, versus a 1.79% rise in the benchmark S&P 500 index during the same period.

MO currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #2 of 10 stocks in the Tobacco category.

This article is brought to you courtesy of StockNews.com.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)

Powered by WPeMatico