Amcor (NYSE:AMCR) Posts Earnings Results, Beats Expectations By $0.04 EPS

Amcor (NYSE:AMCR) announced its quarterly earnings results on Thursday. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.04, FiscalAI reports. The company had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.05 billion. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The firm’s revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS.

Amcor Trading Down 0.7%

Shares of AMCR stock traded down $0.34 on Friday, hitting $46.04. The company had a trading volume of 3,547,689 shares, compared to its average volume of 4,088,462. Amcor has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.95 and a current ratio of 0.74. The firm has a market cap of $21.29 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.45 and a beta of 0.62. The stock’s 50-day moving average is $43.57 and its two-hundred day moving average is $42.62.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Friday, September 4th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.60 annualized dividend and a dividend yield of 5.6%. Amcor’s dividend payout ratio is presently 110.17%.

Institutional Trading of Amcor

Several institutional investors have recently added to or reduced their stakes in the stock. Sivia Capital Partners LLC bought a new stake in shares of Amcor in the 2nd quarter valued at $138,000. Keel Point LLC acquired a new stake in shares of Amcor during the fourth quarter worth $120,000. Blair William & Co. IL bought a new position in Amcor during the fourth quarter worth $119,000. Oxford Asset Management LLP bought a new position in Amcor during the fourth quarter worth $115,000. Finally, Advyzon Investment Management LLC bought a new position in Amcor during the fourth quarter worth $106,000. 45.14% of the stock is currently owned by institutional investors.

More Amcor News

Here are the key news stories impacting Amcor this week:

• Positive Sentiment: Amcor received two AmeriStar packaging awards, highlighting product innovation and design capabilities. The recognition is strategically positive, although it is unlikely to materially affect near-term earnings. Amcor Garners Two AmeriStar Awards
• Positive Sentiment: Management outlined a transition-period adjusted EPS range of $1.80 to $1.90 and is targeting $650 million in synergies over three years. Successful execution could improve margins, cash flow and earnings visibility. Amcor outlines transition-period EPS range and synergies
• Positive Sentiment: Amcor declared a quarterly dividend of $0.65 per share, equivalent to approximately $2.60 annually and a yield near 5.6%. The payout supports the stock’s appeal to income-focused investors, although the ex-dividend date is September 4.
• Positive Sentiment: The latest quarterly results exceeded expectations, with EPS of $1.23 versus the $1.19 consensus and revenue of $6.40 billion versus $6.05 billion expected. Revenue increased 25.9% year over year, providing fundamental support for the shares.
• Neutral Sentiment: RBC Capital assigned a “Hold” rating, while UBS began coverage; neither development signals a strong change in institutional sentiment. RBC Capital gives Amcor a Hold rating
• Negative Sentiment: Wells Fargo raised its price target only to $44 from $43 while maintaining an “Equal Weight” rating. The new target remains below the recent $46.04 reference price, suggesting limited upside and potentially weighing on sentiment.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMCR. Citigroup reaffirmed a “buy” rating and issued a $52.00 target price (up from $47.00) on shares of Amcor in a report on Friday. BMO Capital Markets assumed coverage on Amcor in a research note on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price objective for the company. UBS Group started coverage on shares of Amcor in a report on Tuesday. They issued a “buy” rating and a $56.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Amcor in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.24.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.