British American Tobacco (NYSE:BTI) Announces Quarterly Earnings Results

Key Points

• British American Tobacco reported disappointing quarterly results, with EPS of $1.11 versus the $2.21 consensus estimate and revenue of $8.10 billion versus expectations of $16.42 billion.
• BTI shares fell 2.2% to $61.68 following the results. The stock has traded between $49.88 and $67.30 over the past year.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus rating, although the average price target of $51.00 is below the current share price; institutional investors own 16.16% of the stock.

British American Tobacco (NYSE:BTI - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $2.21 by ($1.10), FiscalAI reports. The business had revenue of $8.10 billion for the quarter, compared to analysts' expectations of $16.42 billion.

British American Tobacco Trading Down 2.2%

BTI traded down $1.39 on Thursday, hitting $61.68. The company had a trading volume of 5,073,178 shares, compared to its average volume of 4,549,523. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66. The company's fifty day moving average price is $61.28 and its 200 day moving average price is $60.24. British American Tobacco has a 1-year low of $49.88 and a 1-year high of $67.30.

Hedge Funds Weigh In On British American Tobacco

Institutional investors have recently made changes to their positions in the business. Cary Street Partners Financial LLC bought a new position in British American Tobacco during the second quarter worth $30,000. Binnacle Investments Inc boosted its holdings in British American Tobacco by 163.2% in the 3rd quarter. Binnacle Investments Inc now owns 750 shares of the company's stock valued at $40,000 after purchasing an additional 465 shares during the period. FIL Ltd grew its position in British American Tobacco by 319.0% in the 4th quarter. FIL Ltd now owns 792 shares of the company's stock worth $45,000 after purchasing an additional 603 shares during the last quarter. Triumph Capital Management bought a new position in shares of British American Tobacco during the 3rd quarter worth about $51,000. Finally, Kelleher Financial Advisors acquired a new position in shares of British American Tobacco during the third quarter valued at about $83,000. 16.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BTI shares. Wall Street Zen downgraded shares of British American Tobacco from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Weiss Ratings raised shares of British American Tobacco from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, June 3rd. Citigroup reissued a "buy" rating on shares of British American Tobacco in a research note on Thursday, May 14th. BTIG Research assumed coverage on British American Tobacco in a research report on Tuesday, July 21st. They issued a "buy" rating for the company. Finally, Morgan Stanley reiterated an "overweight" rating on shares of British American Tobacco in a report on Monday, June 8th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.00.

British American Tobacco Company Profile

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world's largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT's core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.

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