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 (EPS) guidance of 5.340-5.420 for the period, compared to the consensus estimate of 5.360. The company issued revenue guidance of -. AptarGroup also updated its Q4 2024 guidance to 1.220-1.300 EPS.

Analysts Set New Price Targets

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

AptarGroup Stock Performance

NYSE:ATR traded down $1.10 during midday trading on Thursday, reaching $166.55. 547,349 shares of the company traded hands, compared to its average volume of 291,544. AptarGroup has a twelve month low of $120.36 and a twelve month high of $169.65. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 36.02, a price-to-earnings-growth ratio of 3.29 and a beta of 0.58. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.95. The company has a fifty day moving average price of $156.10 and a 200 day moving average price of $148.60.

AptarGroup (NYSE:ATR) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $1.37 earnings per share (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 business had revenue of $910.10 million during the quarter, compared to analyst estimates of $930.15 million. During the same quarter in the previous year, the firm posted $1.23 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts expect that AptarGroup will post 5.36 EPS for the current fiscal year.

AptarGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 24th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend 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 presently 38.63%.

AptarGroup announced that its board has approved a share buyback program on Thursday, October 10th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 4.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at AptarGroup

In other news, CEO Stephan B. Tanda sold 32,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 174,118 shares of the company’s stock, valued at $25,692,852.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Stephan B. Tanda sold 32,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 174,118 shares of the company’s stock, valued at $25,692,852.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Hedi Tlili sold 1,375 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $152.54, for a total value of $209,742.50. Following the sale, the insider now directly owns 9,379 shares in the company, valued at $1,430,672.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,457 shares of company stock valued at $7,314,030. Corporate insiders own 1.00% of the company’s stock.

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.