Insights Into Altria (MO) Q3: Wall Street Projections for Key Metrics
The upcoming report from Altria (MO) is expected to reveal quarterly earnings of $1.51 per share, indicating an increase of 4.1% compared to the year-ago period. Analysts forecast revenues of $5.3 billion, representing an increase of 1% year over year.
The consensus EPS estimate for the quarter has undergone a downward revision of 0.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company’s earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts’ projections for specific key metrics can offer valuable insights.
In light of this perspective, let’s dive into the average estimates of certain Altria metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts predict that the ‘Revenues net of excise taxes- Oral Tobacco Products’ will reach $694.43 million. The estimate suggests a change of +4.4% year over year.
Analysts forecast ‘Revenues net of excise taxes- Smokeable Products’ to reach $4.62 billion. The estimate indicates a year-over-year change of +0.6%.
The combined assessment of analysts suggests that ‘Operating Companies Income- Reported OCI- Oral Tobacco Products’ will likely reach $467.09 million. Compared to the current estimate, the company reported $459.00 million in the same quarter of the previous year.
Analysts’ assessment points toward ‘Operating Companies Income- Adjusted OCI- Smokeable Products’ reaching $3.02 billion. Compared to the current estimate, the company reported $2.96 billion in the same quarter of the previous year.
View all Key Company Metrics for Altria here>>>
Shares of Altria have demonstrated returns of +8% over the past month compared to the Zacks S&P 500 composite’s -1.2% change. With a Zacks Rank #2 (Buy), MO is expected to beat the overall market performance in the near future. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).