|Bid||50.40 x 1100|
|Ask||50.50 x 1100|
|Day's Range||50.42 - 50.90|
|52 Week Range||42.40 - 66.04|
|Beta (3Y Monthly)||0.34|
|PE Ratio (TTM)||15.40|
|Earnings Date||Jul 30, 2019|
|Forward Dividend & Yield||3.20 (6.33%)|
|1y Target Est||58.27|
Philip Morris International (PM) reported its second-quarter earnings results on Thursday. The company reported adjusted EPS of $1.46.
FEMSA's (FMX) second-quarter 2019 results are likely to be impacted by ongoing cost headwinds, which should continue to hurt margins. However, its growth efforts might provide some respite.
-- Altria calls for 21 to be the nationwide standard --
Altria Group, Inc. will host a live audio webcast on Tuesday, July 30, 2019, at 9:00 a.m. Eastern Time to discuss its 2019 second-quarter business results. Altria will issue a press release containing its business results at approximately 7:00 a.m.
Will no one think of the children? Well, Kevin Burns, the CEO of Juul Labs will. Burns recently apologized on behalf of his company, the most popular electronic cigarette on the market, for his product’s popularity with America’s youth. “First of all, I’d tell them that I’m sorry that their child’s using the product,” said Burns. “It’s not intended for them. I hope there was nothing that we did that made it appealing to them....” Run The JUUL JUUL launched in 2015 and quickly began to take over the electronic cigarettes game, controlling 40% of the market. As the popularity of vaping jumped over the past several years, the company has become so big that Altria (which also owns Philip Morris), the top U.S. cigarette company, invested $12.8 billion for a 35% stake. The Teens While those booming numbers are nice for JUUL and their shareholders, they have one big problem. One of the main groups that love to vape is teenagers, as federal data shows that nearly 21% of high school students hit the JUUL (or some other vaping device) last year. It has become so popular that the FDA recently declared teen vaping “an epidemic,” and former FDA Commissioner Scott Gottlieb and health care advocates blame the rise in teen vaping on JUUL, saying that fruit flavors such as mango give the product a youth appeal. The anti-smoking advocacy group Truth found that 15- 17-year-olds are over 16 times likelier odds to be JUUL users compared to those aged 25-34. DIsclosure Some Altria shareholders have been pushing for JUUL to disclose nicotine levels, though a recent proposal was handily voted down. Also, the company has been having difficulties finding scientists willing to research the product on their behalf, which would make issuing any such reports that much more difficult. -Michael Tedder Photo: Mike Segar/Reuters
(Bloomberg Opinion) -- For a company that built its beer-brewing empire on the back of swashbuckling deals, the future for Anheuser-Busch InBev SA looks pretty unexciting.Friday’s decision by the Belgian giant to pull an initial public offering of its Asian unit, which might have raised as much as $10 billion, means it has given up the chance to pay down its $100 billion of debt faster. Perhaps more important, the brewer has lost a valuable source of funding for acquisitions in Asia.AB InBev had set a punchy price range for the listing, as noted by my colleague Chris Hughes. Even so, the decision to pull the IPO – rather than cut the price – is curious. A survey by Bernstein analysts indicated that there was significant interest among investors at HK$38 per share, which was below the HK$40-47 range but not that much lower. This reduced offer would have generated $400 million less than an IPO at the bottom of the price range, Bernstein notes. For the world’s biggest brewer, with a market capitalization of 157 billion euros ($177 billion), that would have seemed a small concession given the IPO’s considerable benefits.Without the prospect of the Asia listing, AB InBev has little choice but to knuckle down and gradually chip away at its mountain of borrowings. Net debt stood at $103 billion on December 31. The IPO would have cut the total by about 10%, according to Bernstein, and allowed the company to hit a key debt reduction target a year early. Now net debt will still be 4.2 times earnings at the end of this year. That’s better than the 4.6 times at the close of 2018, but it’s still too high. It underlines the slow pace of reducing the burden.This doesn’t leave the group much flexibility to do deals. True, the company could gear up further or use AB InBev shares as currency. But neither option is attractive. Investors would be justifiably nervous about borrowings rising even more. The group’s two biggest shareholders, Altria Group Inc. and Colombia’s Santo Domingo family, may not want to be diluted through any deal that was funded by equity.Cutting the dividend again to speed deleveraging is another option. The group should probably have gone further when it halved the payout in October. Still, such a decision wouldn’t be taken lightly.While it’s possible the IPO might return to the agenda, it’s hard to see what might change either the company’s or investors’ contrasting views of the Asian business’s value. With the prospects of the listing gone – at least for now – the king of beers is tasting pretty flat.To contact the author of this story: Andrea Felsted at email@example.comTo contact the editor responsible for this story: James Boxell at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
On Friday, Goldman Sachs upgraded Altria Group (MO) from a “neutral” to a “buy” while keeping its price target unchanged at $59.
Philip Morris' (PM) Q2 performance to gain from pricing and advancements in RRPs. However, low cigarette sales volumes are a worry.
Today we'll take a closer look at Altria Group, Inc. (NYSE:MO) from a dividend investor's perspective. Owning a strong...
(Bloomberg Opinion) -- Sellers of euro-denominated corporate bonds had their best fund-raising month for three years in June, topping off their best six months since 2012. Some 210 billion euros ($238 billion) in new company debt was snaffled up by investors between January and June, 21% higher than the same period last year.Conditions are rarely better than this for company borrowers as benchmark sovereign bond yields keep falling and credit spreads (the difference between the interest rate on corporate bonds and the yields on those sovereign benchmarks) tighten. And there’s more good news on the horizon possibly, with the European Central Bank thinking about restarting its corporate bond-buying program to help reboot the euro zone’s floundering economy. Goldman Sachs Group Inc. is one of several banks to forecast a return of the ECB to the company credit market.It’s been a frenzy of issuance in 2019, with the consumer goods giants dominating at more than 40% of the total. So-called “Reverse Yankees,” where U.S. companies issue euro-denominated bonds, have featured prominently as American multinationals take advantage of record low interest rates to fund their euro-area operations. Coca-Cola Co., International Business Machines Corp. and Altria Group Inc. all did substantial deals, with nearly 50 billion euros raised this year from U.S entities. The big issuer was Medtronic Plc, a medical products supplier, which came to the market twice with jumbo deals for a total of 12 billion euros.One other statistic stands out at the turn of Europe’s corporate bond year: Nearly half of the issuance has been in maturities of longer than 10 years. As I’ve written regularly, there’s a desperate hunt for yield and investors prefer to buy long-term debt than settle for negative returns.No wonder there’s little sign of the momentum stopping; July is looking very healthy already with eight company issuers announcing new deals on Monday.The chance of the ECB piling in again merely adds to the sense of expectation. Between June 2016 and December 2018 the euro zone’s central bank amassed 178 billion euros of investment grade euro-denominated corporates (although it avoided buying bank paper). The splurge was long-anticipated and credit spreads tightened in expectation of its arrival. A restart to the program – or even the hope of its return – could trigger a similar tightening this time around. If Goldman’s call is correct, that might happen as early as September. This would suggest a balmy summer indeed for credit spreads.To contact the author of this story: Marcus Ashworth at email@example.comTo contact the editor responsible for this story: James Boxell at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Marcus Ashworth is a Bloomberg Opinion columnist covering European markets. He spent three decades in the banking industry, most recently as chief markets strategist at Haitong Securities in London.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Constellation Brands Inc (STZ), a leading producer and marketer of alcoholic beverage brands, is expected to release its Q1 fiscal 2020 earnings results before the bell this Friday, June 28. Our Zacks Consensus Estimate calls for quarterly EPS of $2.07.