The stock of Altria Group, Inc. (NYSE:MO) is now priced at $43.12 and the shares are -0.62 points down or -1.42% lower compared to its previous closing price of $43.74. The stock had 6.997 million contracts set over the past session. MO shares’ daily volume is compared to its average trading volume at 7.563 million shares. However, it has a float of 1860 million and although its performance was -0.92% over the week, it’s one to watch. Analysts have given the MO stock a yearly average price target of $49 per share. It means the stock’s upside potential is 13.64% with the MO share price recently placing at $43.04 to $43.69. However, some brokerage firms have priced the stock below the average, including one that has called $38.
The shorts are running away from the Altria Group, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the MO shares have declined. Short interest in the stock represents just 0.54% of its float, but the volume has dropped by 0.
In the last trading session, Altria Group, Inc. (NYSE:MO) dropped by -$0.4 over the week and gained $1.52 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $51.78. The stock recorded its established 52-week high on 01/15/20.
Since 03/23/20, the stock has traded to a low of $30.95 at 39.32%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.5. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Altria Group, Inc.’s two-week RSI is 54.43. This suggests that the stock is neutral at the moment and that MO shares’ price movement remains stable. The stochastic readings are equally revealing at 63.73% meaning the MO share price is currently in neutral territory.
The technical chart shows that the MO stock will likely settle at between $43.53 and $43.93 per share. However, if the stock dips below $42.88, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $42.63.
Currently, the stock is trading in the green of MACD, with a reading of 0.01. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Barclays cut their recommendation for MO from Overweight to Equal Weight in July 08 review while maintai their target price of $43. Goldman analysts see the stock as a Neutral with a target price of $35 in a flash note released to investors on April 01 resuming covering the stock. Morgan Stanley seeing the improvements upgraded the stock from Equal-Weight to Overweight on March 16, placing it at $49.
The average rating for the MO equity is 2.13 and is currently gathering a bullish momentum. Of 15 analysts tracking Altria Group, Inc. polled by Reuters, 6 rated MO as a hold. The remaining 9 analysts were split evenly. However, the split wasn’t equal as a majority (9) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the MO stock price is 9.46X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 31.7. Altria Group, Inc. has its P/E ratio at 14.1, which means that the stock is currently trading at a premium relative to the 3.5 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Altria Group, Inc. (NYSE:MO) will increase by about 8.06%, which will see them reach $5470 million. The company’s full-year revenues are, however, expected to increase by about 3.43%, up from $19800 million to $20500 million. MO’s expected adjusted earnings should drop almost -4.2% to end up at $1.14 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 2.13% to record $4.31/share.