AptarGroup (NYSE:ATR) Updates FY 2024 Earnings Guidance

AptarGroup (NYSE:ATR) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 5.340-5.420 for the period, compared to the consensus earnings per share estimate of 5.360. The company issued revenue guidance of -. AptarGroup also updated its Q4 2024 guidance to 1.220-1.300 EPS.

AptarGroup Stock Down 0.7 %

NYSE ATR traded down $1.10 on Thursday, reaching $166.55. The stock had a trading volume of 547,349 shares, compared to its average volume of 291,544. The business has a 50 day moving average price of $156.10 and a 200 day moving average price of $148.60. The company has a current ratio of 1.36, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. AptarGroup has a 1 year low of $120.36 and a 1 year high of $169.65. The company has a market capitalization of $11.04 billion, a price-to-earnings ratio of 36.02, a P/E/G ratio of 3.29 and a beta of 0.58.

AptarGroup (NYSE:ATR) last issued its earnings results on Thursday, July 25th. The industrial products company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.01. AptarGroup had a return on equity of 15.13% and a net margin of 9.00%. The firm had revenue of $910.10 million for the quarter, compared to the consensus estimate of $930.15 million. During the same quarter in the previous year, the company posted $1.23 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, analysts forecast that AptarGroup will post 5.36 EPS for the current fiscal year.

AptarGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 24th will be paid a $0.45 dividend. The ex-dividend date is Thursday, October 24th. This represents a $1.80 dividend on an annualized basis and a yield of 1.08%. AptarGroup’s dividend payout ratio (DPR) is currently 38.63%.

AptarGroup announced that its board has initiated a stock repurchase program on Thursday, October 10th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to buy up to 4.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Jefferies Financial Group upgraded AptarGroup from a “hold” rating to a “buy” rating and upped their price target for the stock from $155.00 to $215.00 in a research note on Monday, October 14th. Dbs Bank upgraded AptarGroup from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price target on AptarGroup from $168.00 to $185.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AptarGroup presently has a consensus rating of “Buy” and an average target price of $190.00.

Insider Activity at AptarGroup

In related news, CEO Stephan B. Tanda sold 32,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $147.56, for a total transaction of $4,721,920.00. Following the completion of the sale, the chief executive officer now owns 174,118 shares in the company, valued at $25,692,852.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Stephan B. Tanda sold 32,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $147.56, for a total transaction of $4,721,920.00. Following the completion of the sale, the chief executive officer now owns 174,118 shares in the company, valued at $25,692,852.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Kuhn sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $150.18, for a total value of $30,036.00. Following the completion of the transaction, the chief financial officer now directly owns 65,552 shares of the company’s stock, valued at approximately $9,844,599.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,457 shares of company stock worth $7,314,030 in the last 90 days. 1.00% of the stock is owned by company insiders.

About AptarGroup

AptarGroup, Inc designs and manufactures a range of drug delivery, consumer product dispensing, and active material science solutions and services for the pharmaceutical, beauty, personal care, home care, and food and beverage markets. The company operates through Aptar Pharma, Aptar Beauty, and Aptar Closures segments.