Amcor (NYSE:AMCR - Get Free Report) posted its earnings results on Tuesday. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01, Yahoo Finance reports. Amcor had a net margin of 4.59% and a return on equity of 24.28%. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period last year, the firm posted $0.18 EPS. The firm's revenue for the quarter was down 7.0% on a year-over-year basis. Amcor updated its FY24 guidance to $0.685-0.71 EPS.
Amcor Price Performance
NYSE:AMCR traded up $0.86 during mid-day trading on Wednesday, hitting $9.80. 25,822,949 shares of the company's stock traded hands, compared to its average volume of 8,750,380. Amcor has a 1 year low of $8.45 and a 1 year high of $11.04. The company has a market cap of $14.16 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 9.95 and a beta of 0.78. The firm's 50 day simple moving average is $9.20 and its 200 day simple moving average is $9.28. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.71 and a current ratio of 1.25.
Amcor Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd will be issued a dividend of $0.125 per share. The ex-dividend date is Tuesday, May 21st. This represents a $0.50 annualized dividend and a yield of 5.10%. Amcor's dividend payout ratio (DPR) is currently 113.64%.
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. raised their target price on shares of Amcor from $9.90 to $10.00 and gave the company an "overweight" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Amcor currently has a consensus rating of "Hold" and an average target price of $10.00.
Check Out Our Latest Stock Analysis on Amcor
About Amcor
(
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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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