Altria Stock Slides 3.5% Despite Q1 Earnings Beat

Altria Group shares declined 3.5% to $70.16 despite reporting Q1 earnings per share (EPS) of $1.32, which beat the consensus estimate of $1.25. The company reaffirmed its full-year 2024 EPS guidance, maintaining a range of $5.56 to $5.72. Meanwhile, Great Southern Bancorp reported solid quarterly results with an EPS of $1.59 on revenue of $55.36 million, alongside an increase in its dividend payout. This dividend growth highlights the bank's strong capital position amid the current interest rate environment. For Altria, the downward pressure persisted as the stock traded above the average analyst price target of $69.22, suggesting a valuation correction. Investors remain focused on the sustainability of tobacco industry margins and the impact of banking sector dividend hikes.