Altria Boosts Buybacks as Regulation Looms
The tobacco industry has faced challenges for decades, and Altria Group (NYSE: MO) has always charted a course through rough waters to find smooth sailing beyond. By using its pricing power and customer loyalty, Altria has managed to keep sales and profits rising over time even as a secular decline in smoking has seemed to threaten its long-term business.
Coming into the second-quarter financial report, Altria investors had wanted to see substantial gains in earnings amid modest top-line growth. The cigarette giant's revenue came in better than expected, but bottom-line increases were muted at best. Moreover, an announcement after the report came out created fear among investors about the company's future. Let's take a closer look at Altria and what its latest results say about the future for the business.
Image source: Altria.
Source: Fool.com
Altria Group Inc. Stock
With 6 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
However, we have a potential of -1.0% for Altria Group Inc. as the target price of 46 € is below the current price of 46.47 €.