|Bid||0.00 x 1000|
|Ask||0.00 x 1200|
|Day's range||45.99 - 46.90|
|52-week range||42.40 - 66.04|
|Beta (3Y monthly)||0.35|
|PE ratio (TTM)||13.91|
|Earnings date||31 Oct 2019|
|Forward dividend & yield||3.20 (6.92%)|
|1y target est||57.67|
Altria Group, Inc. today announced that its Board of Directors voted to increase Altria’s regular quarterly dividend for the 54th time in the past 50 years.
Altria (MO) stock has lagged the broader market in 2019. On August 17, the CDC noted that it is investigating lung diseases linked to e-cigarette use.
The company did not break out the ratio of equity and debt offered, but a source familiar with the matter told Reuters that Juul sold convertible debt in a bridge financing to bolster its balance sheet. Juul, 35% owned by Marlboro maker Altria Group Inc , has over the past year focussed its efforts on growing outside the United States, as American regulators increase oversight of e-cigarette products that are wildly popular among teenagers. The company launched its products in South Korea, Philippines and Indonesia at around the same time the city of San Francisco, where Juul is headquartered, approved an ordinance to ban the sale and distribution of e-cigarettes until manufacturers get approval from the U.S. Food and Drug Administration.
Juul Labs, the US ecigarette start-up, has raised $325m in fresh funding as it plans international expansion and faces growing scrutiny from politicians and regulators at home. The cash was raised through a bridge financing structured as a convertible note, said three people familiar with the deal, a form of debt that start-ups sometimes use to raise money between equity sales. Tiger Global Management, which led an investment valuing the company at $15bn last July, participated in the new debt offering, one of the people familiar with the transaction said.
Altria (MO) stock has dipped roughly 5% so far in 2019, underperforming the broader market. MO stock is trading about 10% above its 52-week low price.
Investors will focus on Cronos' (CRON) regular top and bottom-line numbers along with its pipeline progress when it reports second-quarter results.
The tobacco giant's $1.8 billion investment isn't going up in smoke. Cronos appears to be using its big cash stockpile wisely.
This year, Altria (MO) expects its adjusted EPS to grow 4%–7% year-over-year to $4.15–$4.27. It's investing in product expansion and loyalty programs.