FY2024 EPS Estimates for Amcor plc Boosted by Analyst (NYSE:AMCR)

Amcor plc (NYSE:AMCR) – Analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for shares of Amcor in a research note issued to investors on Friday, June 14th. Zacks Research analyst M. Das now expects that the company will earn $0.70 per share for the year, up from their previous forecast of $0.69. The consensus estimate for Amcor’s current full-year earnings is $0.70 per share. Zacks Research also issued estimates for Amcor’s Q4 2024 earnings at $0.21 EPS, Q2 2025 earnings at $0.18 EPS and Q4 2025 earnings at $0.19 EPS.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.49 billion. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS.

Separately, JPMorgan Chase & Co. increased their target price on Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st.

Amcor Price Performance

NYSE AMCR opened at $9.96 on Monday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29. The company has a market capitalization of $14.40 billion, a P/E ratio of 22.13, a P/E/G ratio of 5.43 and a beta of 0.85. Amcor has a one year low of $8.45 and a one year high of $10.51. The stock has a 50 day moving average price of $9.75 and a 200-day moving average price of $9.53.

Institutional Trading of Amcor

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Amcor by 2.1% during the first quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock valued at $539,686,000 after buying an additional 1,170,986 shares during the period. Federated Hermes Inc. increased its stake in shares of Amcor by 1.9% during the fourth quarter. Federated Hermes Inc. now owns 25,391,765 shares of the company’s stock valued at $244,777,000 after buying an additional 468,883 shares during the period. American Century Companies Inc. increased its stake in shares of Amcor by 3.4% during the third quarter. American Century Companies Inc. now owns 22,830,158 shares of the company’s stock valued at $209,124,000 after buying an additional 748,138 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Amcor by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock valued at $195,946,000 after buying an additional 2,086,698 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Amcor by 14.9% during the third quarter. Invesco Ltd. now owns 20,531,344 shares of the company’s stock valued at $188,067,000 after buying an additional 2,664,715 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd were paid a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $0.50 dividend on an annualized basis and a yield of 5.02%. Amcor’s payout ratio is 111.11%.

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.