Amcor (NYSE:AMCR) Updates FY 2024 Earnings Guidance

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

Amcor Stock Performance

NYSE AMCR opened at $9.48 on Thursday. The firm has a market capitalization of $13.70 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 10.10 and a beta of 0.78. 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 company’s fifty day moving average is $9.28 and its two-hundred day moving average is $9.27. Amcor has a 52-week low of $8.45 and a 52-week high of $11.39.

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

Amcor Dividend Announcement

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

Hedge Funds Weigh In On Amcor

Institutional investors have recently added to or reduced their stakes in the company. Money Concepts Capital Corp purchased a new position in shares of Amcor in the 4th quarter worth $31,000. Clear Street Markets LLC raised its holdings in Amcor by 93.6% in the first quarter. Clear Street Markets LLC now owns 2,913 shares of the company’s stock valued at $33,000 after acquiring an additional 1,408 shares in the last quarter. Chilton Capital Management LLC acquired a new position in shares of Amcor in the 1st quarter valued at $63,000. Coppell Advisory Solutions Corp. purchased a new position in Amcor during the 4th quarter worth $74,000. Finally, Oracle Alpha Inc. purchased a new position in Amcor during the 4th quarter worth $100,000. Institutional investors own 45.14% of the company’s stock.

About Amcor

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.