|Bid||35.99 x 1200|
|Ask||36.02 x 900|
|Day's Range||35.89 - 36.75|
|52 Week Range||30.95 - 51.78|
|Beta (5Y Monthly)||0.55|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 30, 2020|
|Forward Dividend & Yield||3.44 (9.37%)|
|Ex-Dividend Date||Sep 14, 2020|
|1y Target Est||49.07|
Altria Group (NYSE: MO) reported third-quarter earnings Friday morning that showed the pandemic hasn't materially damaged its tobacco business, but the continuing controversy surrounding Juul Labs electronic cigarettes caused Altria to take another massive writedown of its investment in the company. The original $12.8 billion investment that gave the tobacco giant a 38% ownership stake in the e-cig maker has now been reduced to just $1.6 billion, an 88% devaluation, after Altria wrote off another $2.6 billion and took $1.40 per share in charges to earnings. Altria's attempts to expand beyond the tobacco industry have not panned out as intended.
Cigarette producer Altria beat expectations even after taking a write-down on its investment in e-cigarette maker Juul.
Altria (MO) delivered earnings and revenue surprises of 3.48% and 2.84%, respectively, for the quarter ended September 2020. Do the numbers hold clues to what lies ahead for the stock?