Amcor (NYSE:AMCR) Updates FY 2024 Earnings Guidance

Amcor (NYSE:AMCR) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.670-0.710 for the period, compared to the consensus EPS estimate of 0.680. The company issued revenue guidance of -.

Amcor Stock Up 3.2 %

Shares of NYSE AMCR opened at $9.48 on Thursday. The company has a market cap of $13.70 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 10.10 and a beta of 0.78. The firm’s fifty day moving average is $9.28 and its 200 day moving average is $9.27. The company has a quick ratio of 0.71, a current ratio of 1.25 and a debt-to-equity ratio of 1.74. Amcor has a 52 week low of $8.45 and a 52 week high of $11.39.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Amcor had a net margin of 4.59% and a return on equity of 24.28%. On average, equities research analysts expect that Amcor will post 0.68 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were given a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.50 annualized dividend and a yield of 5.27%. Amcor’s dividend payout ratio is currently 113.64%.

Institutional Investors Weigh In On Amcor

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its holdings in Amcor by 10.2% during the 1st quarter. State Street Corp now owns 112,644,781 shares of the company’s stock valued at $1,276,265,000 after acquiring an additional 10,472,157 shares during the period. Vanguard Group Inc. grew its holdings in shares of Amcor by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 56,742,108 shares of the company’s stock worth $642,887,000 after acquiring an additional 358,145 shares during the period. Geode Capital Management LLC lifted its stake in Amcor by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 30,845,588 shares of the company’s stock valued at $350,227,000 after buying an additional 585,881 shares in the last quarter. Invesco Ltd. raised its position in shares of Amcor by 40.9% in the first quarter. Invesco Ltd. now owns 27,078,220 shares of the company’s stock valued at $306,797,000 after buying an additional 7,854,257 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Amcor by 7.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 23,967,874 shares of the company’s stock worth $271,556,000 after acquiring an additional 1,564,919 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.