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March update: should you buy or sell Altria Group?

By: Invezz
March update: should you buy or sell Altria Group?

Altria Group (NYSE: MO) shares have advanced more than 18% since the beginning of the year, and the current share price stands around $48. Altria Group reported better than expected Q4 earnings in January, and the shares of this company remain attractive for long-term-oriented investors.

Fundamental analysis: The board of directors authorized a new $2 billion share repurchase program

Altria Group is an American corporation and one of the world’s largest producers and marketers of tobacco, cigarettes, and related products. Altria Group is previously known as Philip Morris Companies, and according to analysts, this company could expand its market share even more in the upcoming years.

Altria Group shares have been moving in an uptrend last several months, supported by the better than expected earnings results. The company has reported Q4 results in January; total revenue has increased 5.3% Y/Y to $5.05B while Q4 GAAP EPS was $1.03 (beats by $0.01).

“Altria delivered outstanding results in Q4 2020 and managed through the challenges presented by the COVID-19 pandemic. Our tobacco businesses were resilient, and our employees demonstrated an unwavering commitment to their work, colleagues, and communities,” said Billy Gifford, Chief Executive Officer of Altria Group.

It is important to say that Altria increased its revenues for the 2020 fiscal year to 20.8B while Altria’s full-year adjusted diluted earnings per share grew 3.6%. Altria Group raised its 2021 guidance while the board of directors authorized a new $2 billion share repurchase program that should be complete by June 30, 2022.

Altria Group shares offer a stable growing dividend income and represent a very good opportunity for investors. The company has declared a $0.86/share quarterly dividend in February, and the forward dividend yield stands around 7%.

Altria Group shares are still undervalued relative to the market, and with an $88.85B market capitalization, this company is reasonably valued. Altria Group continues to expand its business, and this company could deliver substantial shareholder value for many years to come.

Technical analysis: The positive trend remains intact

Altria Group shares have been moving in an uptrend last several months, and for now, the positive trend remains intact.

Data source: tradingview.com

If the price jumps above $50 resistance, it would be a signal to buy shares, and the next target could be around $55 or even $60.

Rising above $60 supports the continuation of the bullish trend for Altria Group shares, but if the price falls below $40, it would be a strong “sell” signal.

Summary

Altria Group offers earnings stability, and the shares of this company remain attractive for long-term-oriented investors. Altria Group raised its 2021 guidance while the board of directors authorized a new $2 billion share repurchase program that should be complete by June 30, 2022.

The post March update: should you buy or sell Altria Group? appeared first on Invezz.

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