Amcor (NYSE:AMCR) Updates FY24 Earnings Guidance

Amcor (NYSE:AMCR) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.67-$0.71 for the period, compared to the consensus estimate of $0.68.

Amcor Price Performance

Shares of Amcor stock traded down $0.04 during mid-day trading on Tuesday, reaching $9.38. 7,042,219 shares of the stock were exchanged, compared to its average volume of 9,409,433. The company has a market cap of $13.56 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 10.42 and a beta of 0.78. The firm has a 50-day simple moving average of $9.34 and a 200 day simple moving average of $9.28. The company has a current ratio of 1.25, a quick ratio of 0.71 and a debt-to-equity ratio of 1.74. Amcor has a fifty-two week low of $8.45 and a fifty-two 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 (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. Amcor had a return on equity of 24.28% and a net margin of 4.59%. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.29 billion. On average, sell-side analysts predict that Amcor will post 0.68 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 5.33%. The ex-dividend date is Tuesday, February 27th. Amcor’s dividend payout ratio (DPR) is presently 113.64%.

Hedge Funds Weigh In On Amcor

Hedge funds and other institutional investors have recently bought and sold shares of the business. Money Concepts Capital Corp acquired a new stake in shares of Amcor during the fourth quarter worth $31,000. Clear Street Markets LLC raised its position in shares of Amcor by 93.6% in the 1st 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 during the period. Chilton Capital Management LLC bought a new position in Amcor during the 1st quarter worth approximately $63,000. Coppell Advisory Solutions Corp. bought a new stake in Amcor in the fourth quarter valued at approximately $74,000. Finally, Oracle Alpha Inc. acquired a new stake in Amcor in the fourth quarter worth $100,000. 49.52% of the stock is owned by institutional investors.

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.