Amcor (NYSE:AMCR) Releases FY24 Earnings Guidance

Amcor (NYSE:AMCR) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.685-0.71 for the period, compared to the consensus earnings per share estimate of $0.68.

Amcor Stock Down 1.2 %

AMCR traded down $0.11 during trading on Tuesday, hitting $8.94. 15,704,778 shares of the company’s stock traded hands, compared to its average volume of 8,544,656. The stock has a market capitalization of $12.92 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 9.86 and a beta of 0.78. The company’s 50 day simple moving average is $9.19 and its two-hundred day simple moving average is $9.27. Amcor has a 12-month low of $8.45 and a 12-month high of $11.09. 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 (NYSE:AMCR) last posted its earnings results 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 net margin of 4.59% and a return on equity of 24.28%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Analysts predict that Amcor will post 0.68 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders 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 5.59%. Amcor’s payout ratio is presently 113.64%.

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.