AptarGroup (NYSE:ATR) Updates FY 2024 Earnings Guidance

AptarGroup (NYSE:ATR) updated its FY 2024 earnings guidance on Thursday. 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 guidance to $1.22-1.30 EPS.

Wall Street Analyst Weigh In

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

AptarGroup Stock Up 1.4 %

Shares of AptarGroup stock traded up $2.36 during trading on Friday, reaching $168.91. The stock had a trading volume of 518,947 shares, compared to its average volume of 292,642. The company has a market capitalization of $11.19 billion, a price-to-earnings ratio of 36.25, a P/E/G ratio of 3.29 and a beta of 0.58. The stock has a fifty day moving average price of $156.93 and a two-hundred day moving average price of $148.92. AptarGroup has a 52 week low of $120.36 and a 52 week high of $169.85. 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 (NYSE:ATR) last released its earnings results on Thursday, July 25th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.01. AptarGroup had a return on equity of 15.13% and a net margin of 9.00%. The business had revenue of $910.10 million for the quarter, compared to analyst estimates of $930.15 million. During the same quarter in the prior year, the company posted $1.23 earnings per share. AptarGroup’s revenue was up 1.6% on a year-over-year basis. Sell-side analysts predict that AptarGroup will post 5.36 EPS for the current fiscal year.

AptarGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 24th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, October 24th. This represents a $1.80 annualized dividend and a yield of 1.07%. AptarGroup’s payout ratio is presently 38.63%.

AptarGroup announced that its board has authorized a share repurchase plan on Thursday, October 10th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 4.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Xiangwei Gong sold 800 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $146.56, for a total transaction of $117,248.00. Following the sale, the insider now owns 20,174 shares in the company, valued at $2,956,701.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Xiangwei Gong sold 800 shares of AptarGroup stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $146.56, for a total transaction of $117,248.00. Following the sale, the insider now directly owns 20,174 shares in the company, valued at $2,956,701.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hedi Tlili sold 1,375 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $152.54, for a total value of $209,742.50. Following the completion of the sale, the insider now owns 9,379 shares of the company’s stock, valued at $1,430,672.66. The trade was a 0.00 % decrease in their ownership of the stock. 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 three months. 1.00% of the stock is owned by corporate 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.