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
We see a rather positive sentiment for Altria Group Inc. with 8 Buy predictions and 1 Sell predictions.
With a target price of 46 € there is a slightly positive potential of 10.46% for Altria Group Inc. compared to the current price of 41.65 €.
