Sentiment on Altria is positive but not strong. Of 18 analysts covering the stock, 10 have a Hold rating, while another six rate the shares at Buy or Strong Buy. At a recent price of around $44.00 a share, the implied gain based on a median price target of $49.50 is 12.5%. At the high price target of $68.00, the upside potential is about 54.5%.
Fourth-quarter revenue is forecast at $5.15 billion, which would be down 4.9% sequentially but up 1.2% year over year. Adjusted EPS are forecast to come in at $1.16, down 9.4% sequentially and 6.4% lower year over year. For the full 2022 fiscal year, Altria is expected to report EPS of $4.81, up about 4.4%, on sales of $20.77 billion, down about 1.6%.
Altria stock trades at about 9.2 times expected 2022 EPS, 8.8 times estimated 2023 earnings of $5.00 and 8.4 times estimated 2024 earnings of $5.24 per share. The stock’s 52-week trading range is $40.35 to $57.05, and Altria pays an annual dividend of $3.76 (yield of 8.52%). Total shareholder return over the past year is negative 5.1%.
Enterprise Products Partners
Energy pipeline operator Enterprise Products Partners L.P. (NYSE: EPD) has posted a share price gain of about 9.2% over the past 12 months. It is the largest oil and gas midstream (pipeline and infrastructure) company in the country, with a market cap of about $57.7 billion. The company’s payout ratio is nearly 80%, thanks in large part to its master limited partnership structure. Its guaranteed cash flows from long-term contracts are mostly insulated from commodity price swings, making the stock even more popular when times are bad.
Of the 21 brokerages covering the stock, 18 have a Buy or Strong Buy rating and the other three have Hold ratings. At a share price of around $26.50, the stock trades about 17% below its consensus price target of $31.00. At the high target of $36.00, the upside potential on the stock is 35.8%.
Revenue for the December quarter is forecast at $14.74 billion, down 4.7% sequentially but 29.6% higher year over year. Adjusted EPS are forecast at $0.63, down 0.8% sequentially and up 21.1% year over year. For the full 2022 fiscal year, analysts expect to see $2.51 in EPS, up 13.7% year over year, on sales of $57.62 billion, an increase of 41.2%.
The stock trades at 10.6 times expected 2022 EPS, 10.5 times estimated 2023 earnings of $2.53 and 10.4 times estimated 2024 earnings of $2.55. The stock’s 52-week range is $22.75 to $28.65, and the company pays an annual distribution of $1.96 (yield of 7.39%). Total shareholder return for the past 12 months was 17.6%.
Peloton
Shares of fitness product maker Peloton Interactive Inc. (NASDAQ: PTON) have declined by 47.2% over the past 12 months. That is about half the 12-month decline of more than 90% posted at the end of the prior quarter.
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