Amcor plc (NYSE:AMCR – Free Report) – Research analysts at Zacks Research cut their Q1 2024 earnings estimates for shares of Amcor in a note issued to investors on Wednesday, August 30th. Zacks Research analyst M. Das now expects that the company will earn $0.14 per share for the quarter, down from their prior estimate of $0.15. The consensus estimate for Amcor’s current full-year earnings is $0.68 per share. Zacks Research also issued estimates for Amcor’s Q4 2024 earnings at $0.20 EPS, FY2024 earnings at $0.70 EPS, Q2 2025 earnings at $0.17 EPS, Q4 2025 earnings at $0.20 EPS, FY2025 earnings at $0.73 EPS and FY2026 earnings at $0.75 EPS.
Separately, Bank of America lowered shares of Amcor from a “buy” rating to an “underperform” rating in a report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.80.
Amcor Stock Performance
NYSE AMCR opened at $9.74 on Thursday. Amcor has a 1 year low of $9.25 and a 1 year high of $12.78. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.19 and a quick ratio of 0.69. The stock has a market capitalization of $14.11 billion, a PE ratio of 13.72, a P/E/G ratio of 6.35 and a beta of 0.80. The company’s 50 day simple moving average is $9.82 and its two-hundred day simple moving average is $10.40.
Amcor Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Thursday, September 7th will be given a dividend of $0.1225 per share. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $0.49 dividend on an annualized basis and a yield of 5.03%. Amcor’s dividend payout ratio (DPR) is presently 69.01%.
Insider Transactions at Amcor
In related news, Director Arun Nayar sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $9.40, for a total value of $282,000.00. Following the transaction, the director now owns 45,072 shares of the company’s stock, valued at $423,676.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.
Hedge Funds Weigh In On Amcor
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Amcor by 10.2% in the 1st quarter. State Street Corp now owns 112,644,781 shares of the company’s stock worth $1,276,265,000 after buying an additional 10,472,157 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Amcor by 0.6% during the first quarter. Vanguard Group Inc. now owns 56,742,108 shares of the company’s stock worth $642,887,000 after acquiring an additional 358,145 shares during the period. Geode Capital Management LLC raised its stake in shares of Amcor by 1.3% in the second quarter. Geode Capital Management LLC now owns 31,254,680 shares of the company’s stock valued at $311,095,000 after acquiring an additional 409,092 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Amcor by 11.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,691,685 shares of the company’s stock valued at $365,538,000 after acquiring an additional 3,033,487 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Amcor by 35.9% in the first quarter. Federated Hermes Inc. now owns 29,787,068 shares of the company’s stock valued at $338,977,000 after acquiring an additional 7,871,028 shares in the last quarter. Hedge funds and other institutional investors own 49.52% of the company’s stock.
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.
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