Amcor (NYSE:AMCR) Updates FY 2022 Earnings Guidance

Amcor (NYSE:AMCR) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.796-$0.826 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.780. The company issued revenue guidance of -.

NYSE AMCR traded up $0.29 during trading on Friday, hitting $12.42. The company’s stock had a trading volume of 167,425 shares, compared to its average volume of 6,304,432. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.75. The company has a market cap of $19.11 billion, a PE ratio of 20.22, a P/E/G ratio of 2.48 and a beta of 0.90. The business’s 50 day simple moving average is $11.95 and its 200-day simple moving average is $11.84. Amcor has a fifty-two week low of $10.26 and a fifty-two week high of $12.92.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Monday, August 16th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. Amcor had a return on equity of 23.89% and a net margin of 7.30%. Analysts expect that Amcor will post 0.81 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 28th. Stockholders of record on Wednesday, September 8th will be paid a $0.1175 dividend. This represents a $0.47 annualized dividend and a dividend yield of 3.78%. This is a boost from Amcor’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, September 7th. Amcor’s dividend payout ratio (DPR) is presently 63.51%.

Several research analysts have recently issued reports on AMCR shares. Macquarie upgraded Amcor from a neutral rating to an outperform rating in a research note on Thursday, July 1st. The Goldman Sachs Group cut Amcor from a neutral rating to a sell rating and reduced their price target for the company from $12.00 to $11.50 in a research report on Wednesday, August 18th. Zacks Investment Research upgraded Amcor from a hold rating to a buy rating and set a $12.00 price target for the company in a research report on Wednesday, July 21st. Finally, Jefferies Financial Group cut Amcor from a hold rating to an underperform rating and set a $15.00 price target for the company. in a research report on Tuesday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $12.77.

In other Amcor news, CEO Ronald Stephen Delia sold 464,045 shares of Amcor stock in a transaction on Monday, June 14th. The stock was sold at an average price of $12.15, for a total value of $5,638,146.75. Following the sale, the chief executive officer now owns 1,348,178 shares in the company, valued at $16,380,362.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Casamento sold 659,300 shares of Amcor stock in a transaction on Thursday, August 26th. The shares were sold at an average price of $12.70, for a total value of $8,373,110.00. Following the completion of the sale, the chief financial officer now owns 396,766 shares in the company, valued at approximately $5,038,928.20. The disclosure for this sale can be found here. Insiders sold 1,204,909 shares of company stock worth $15,019,767 over the last ninety days. Corporate insiders own 0.28% of the company’s stock.

A hedge fund recently raised its stake in Amcor stock. Morgan Stanley lifted its position in Amcor plc (NYSE:AMCR) by 11.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,015,687 shares of the company’s stock after buying an additional 401,568 shares during the quarter. Morgan Stanley owned approximately 0.26% of Amcor worth $46,020,000 at the end of the most recent reporting period. 38.10% of the stock is owned by institutional investors.

About Amcor

Amcor Plc operates as a holding company, which engages in the provision of consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.

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Earnings History and Estimates for Amcor (NYSE:AMCR)

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