Million

Resistance

Cronos

Billion

View

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Altria Group stock gave a fascinating Q2 report.</a> </li> 
 <li> <span>2</span> <a>Altria Group stock (NYSE: MO) is currently trading at $44.57 with a market capitalization of $79.559 Billion.</a> </li> 
</ul> 
<p>Altria Group, Inc. (NYSE: MO) is a tobacco industry leader. It owns several popular brands, including Marlboro, Copenhagen, Skoal, and NJOY. The company also holds stakes in Anheuser-Busch InBev, Cronos Group, and Juul Labs.</p> 
<h2 class="wp-block-heading" id="strong-altria-group-inc-second-quarter-2023-financial-results-strong"><strong>Altria Group, Inc. Second Quarter 2023 Financial Results</strong></h2> 
<p>Altria announced its Q2 and first-half 2023 financial results on August 1, 2023. The company’s net revenues in Q2 dropped by 0.5% year-over-year to $6.5 Billion, mainly because of lower sales volumes of smokeable products and negative currency impacts on wine revenues. However, revenues net of excise taxes rose by 1.2% to $5.4 Billion, thanks to higher prices and a better mix of smokeable products.<br><br>In Q2, Altria’s GAAP net earnings soared to $2.1 Billion, or $1.19 per share, from $1 Billion, or $0.54 per share, a year ago. The main reasons for the growth were lower income tax costs, higher earnings from AB InBev stake, and reduced asset write-downs.</p> 
<p>In Q2, Altria’s adjusted diluted EPS grew 4% year-over-year to $1.31, up from $1.26. The main drivers of this growth were higher adjusted operating income from the smokeable products segment and lower interest expense.</p> 
<p>Altria maintained its 2023 full-year outlook for adjusted diluted EPS of $4.89 to $5.03, which implies a 1% to 4% growth rate from the 2022 base of $4.84. This outlook reflects Altria’s confidence in its core tobacco businesses and its reduced-risk product investments.</p> 
<p>The company bought NJOY, a top e-cigarette firm, for $2.75 Billion in cash on June 1, 2023. NJOY is expected to boost Altria’s non-combustible product portfolio.</p> 
<p>The company got the last payment of about $1.8 Billion (with interest) from PMI for IQOS in July. Altria used the money to pay off the $2 Billion loan it took to buy NJOY.</p> 
<p>The company gave back $3.8 Billion to shareholders in the first half of 2023 through dividends and share buybacks. Altria bought back 10.4 Million shares at an average price of $45.37, for a total of $472 Million, in Q2. <a href="https://www.thecoinrepublic.com/2023/07/08/altria-group-stock-nyse-mo-stuck-in-a-range-will-it-make-50/" rel="noopener noreferrer nofollow">Altria</a> had $528 Million left in its current share buyback program as of June 30, 2023.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="464" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/Altria-Group-Inc.-Second-Quarter-2023-Financial-Results-1024x464.webp" alt="Altria Group, Inc. Second Quarter 2023 Financial Results" class="wp-image-156388" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/Altria-Group-Inc.-Second-Quarter-2023-Financial-Results-1024x464.webp 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/Altria-Group-Inc.-Second-Quarter-2023-Financial-Results-300x136.webp 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/Altria-Group-Inc.-Second-Quarter-2023-Financial-Results-768x348.webp 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/Altria-Group-Inc.-Second-Quarter-2023-Financial-Results-750x340.webp 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/Altria-Group-Inc.-Second-Quarter-2023-Financial-Results-1140x517.webp 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/Altria-Group-Inc.-Second-Quarter-2023-Financial-Results.webp 1273w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: Trading View 
  </figcaption> 
 </figure> 
</div> 
<p>MO stock price needs to break above the 50 and 200 SMAs to regain bullish momentum and target the next resistance level at $48.50.</p> 
<p>MO stock price is under pressure as the market sentiment is bearish, and the volume is low. The stock may test the support level at $43.00 if the downtrend continues.</p> 
<p>MO stock price is consolidating in a narrow range and waiting for a catalyst to move either up or down. The stock may see a breakout or a breakdown depending on the earnings report and the guidance for the next quarter.</p> 
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>SUMMARY</strong></h3> 
<p>Altria reported mixed Q2 results, with lower revenues but higher earnings. The company faced challenges from lower smokeable product volumes and currency headwinds but benefited from higher prices, better mix, lower taxes, and higher AB InBev earnings. MO stock price is trading in a tight range and showing bearish signs. The stock may move significantly after the earnings report and the guidance.</p> 
<h4 class="wp-block-heading"><strong>Support and Resistance Levels for ZI</strong></h4> 
<p><strong>Support levels:</strong> $43.50.</p> 
<p><strong>Resistance levels:</strong> $48.50.</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The information provided in this article is for educational purposes only and does not constitute investment advice. Technical analysis is based on historical patterns and trends and does not guarantee future results. Trading involves risks, and you should only invest what you can afford to lose.&nbsp;</p>

Mo Stock Price Prediction: Should You Invest in Altria Group?

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