British American Tobacco (NYSE:BTI) Posts Earnings Results, Misses Estimates By $1.10 EPS

British American Tobacco (NYSE:BTI) released its quarterly earnings results on Wednesday. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($1.10), FiscalAI reports. The company had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $16.42 billion.

British American Tobacco Stock Down 2.2%

BTI traded down $1.39 on Thursday, reaching $61.68. 5,073,178 shares of the company traded hands, compared to its average volume of 4,549,523. The firm has a fifty day simple moving average of $61.28 and a two-hundred day simple moving average of $60.24. The company has a current ratio of 0.87, a quick ratio of 0.57 and a debt-to-equity ratio of 0.66. British American Tobacco has a one year low of $49.88 and a one year high of $67.30.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wall Street Zen downgraded British American Tobacco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings upgraded shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Morgan Stanley reissued an “overweight” rating on shares of British American Tobacco in a research report on Monday, June 8th. BTIG Research began coverage on shares of British American Tobacco in a report on Tuesday, July 21st. They issued a “buy” rating for the company. Finally, Citigroup reiterated a “buy” rating on shares of British American Tobacco in a report on Thursday, May 14th. Seven 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.com, the company has an average rating of “Moderate Buy” and an average price target of $51.00.

Institutional Trading of British American Tobacco

A number of hedge funds have recently added to or reduced their stakes in BTI. Cary Street Partners Financial LLC acquired a new stake in shares of British American Tobacco in the second quarter valued at about $30,000. Binnacle Investments Inc boosted its position in shares of British American Tobacco by 163.2% during the third quarter. Binnacle Investments Inc now owns 750 shares of the company’s stock worth $40,000 after buying an additional 465 shares during the period. FIL Ltd grew its stake in shares of British American Tobacco by 319.0% in the fourth quarter. FIL Ltd now owns 792 shares of the company’s stock valued at $45,000 after buying an additional 603 shares in the last quarter. Triumph Capital Management purchased a new stake in shares of British American Tobacco in the 3rd quarter valued at $51,000. Finally, Kelleher Financial Advisors acquired a new position in British American Tobacco during the 3rd quarter worth about $83,000. 16.16% of the stock is owned by hedge funds and other institutional investors.

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.