Dallas, Texas 08/21/2013 (Financialstrend) – The earnings reports that had recently been presented for the second quarter financial performance of Altria Group Inc (NYSE:MO) had proved to have missed out the estimates of the analysts. The company had reported earnings at 62 cents per share for the quarter that ended on June 30, 2013 on revenues at $4.5 billion. However, the analysts were expecting the company to present earnings at 63 cents per share on revenues of $4.62 billion for the second quarter. It is further worth noting that the company had made earnings of 59 cents per basic and diluted share on revenues of $4.6 billion for the same quarter of previous year.
Altria Group Inc (NYSE:MO) is presently operating in the tobacco sales sector, which is turning out to be the most difficult industry for any company to operate under the present conditions. The company is forced to deal with wide range of jurisdictions and regulations across the global markets on their tobacco products. Further, it had been laid out that the earnings for the full fiscal year of 2013 would be at $2.40 per share and for 2014 would be at $2.57 per share.
The stock of Altria Group Inc (NYSE:MO) had been presenting significant loss of 0.47% on Tuesday and had further closed the day at $33.77 per share. It was observed that the stock had been trading on 15.32 million shares on the day, while the stock’s average trading volume remains at 7.88 million shares per day. The stock had moved on Tuesday to present intraday prices in the range of $33.75 to $34.05 per share. The stock had presently reported one year bottom is at $30.01 and one year peak at $37.61 per share. There are currently 2.00 billion shares of the company that are being traded out in the markets with the institutional ownership at 59%.