Amcor (NYSE:AMCR) Issues 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 Performance

NYSE:AMCR opened at $9.51 on Friday. The firm’s fifty day moving average price is $9.28 and its 200 day moving average price is $9.27. Amcor has a 1-year low of $8.45 and a 1-year high of $11.39. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.25 and a quick ratio of 0.71. The firm has a market cap of $13.74 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 10.42 and a beta of 0.78.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Amcor had a net margin of 4.59% and a return on equity of 24.28%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.29 billion. On average, sell-side analysts expect that Amcor will post 0.68 EPS for the current year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.125 per share. The ex-dividend date was Tuesday, February 27th. This represents a $0.50 annualized dividend and a dividend yield of 5.26%. Amcor’s payout ratio is currently 113.64%.

Institutional Investors Weigh In On Amcor

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

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.