Where Will Altria Stock Be in 1 Year?
Altria's (NYSE: MO) stock rose nearly 6% on Feb. 1 after its fourth-quarter report. The domestic tobacco leader's revenue (net of excise taxes) stayed nearly flat year over year at $5.08 billion but missed analysts' estimates by $70 million. Its adjusted earnings rose 8% to $1.18 per share and cleared the consensus forecast by two cents.
Altria's bottom line beat suggested that its traditional tactics of raising prices, cutting costs, and buying back shares still enabled it to squeeze out higher earnings per share as declining smoking rates throttled its shipments. But even after its post-earnings pop, Altria's stock remains down about 6% over the past 12 months. Will it head higher by the end of 2023?
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Source Fool.com
