Bemis Co. Receives Neutral Rating from Zacks (BMS)
Bemis Co. (NYSE:BMS)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Tuesday, Stock Ratings News reports. They currently have a $40.00 target price on the stock. Zacks‘ price objective points to a potential upside of 4.60% from the stock’s previous close.
Zacks‘ analyst wrote, “Bemis Company’s second-quarter EPS increased 13% to $0.61, but net sales declined 1.2% year over year to $1.297 billion. Management expects adjusted EPS in the range of $0.57 to $0.63 for the third quarter of 2013 and between $2.30 and $2.40 for 2013. Weak volume, cautious consumer spending environment and sluggish European economic outlook remain the major concerns. However, savings from the Bemis cost reduction program, benefits from acquisitions and a stable raw material environment will help offset these headwinds. We maintain our Neutral recommendation with a target price of $40.00.”
Shares of Bemis Co. (NYSE:BMS) traded up 0.31% on Tuesday, hitting $38.36. 499,091 shares of the company’s stock traded hands. Bemis Co. has a 1-year low of $31.46 and a 1-year high of $42.34. The stock’s 50-day moving average is $39.75 and its 200-day moving average is $40.04. The company has a market cap of $3.948 billion and a P/E ratio of 21.01.
Bemis Co. (NYSE:BMS) last released its earnings data on Thursday, July 25th. The company reported $0.61 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.59 by $0.02. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company posted $0.54 earnings per share. Bemis Co.’s revenue was down 1.2% compared to the same quarter last year. On average, analysts predict that Bemis Co. will post $2.36 earnings per share for the current fiscal year.
BMS has been the subject of a number of other recent research reports. Analysts at Bank of America Corp. downgraded shares of Bemis Co. from a “buy” rating to an “underperform” rating in a research note to investors on Friday, August 16th. They now have a $44.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Merrill Lynch downgraded shares of Bemis Co. from a “buy” rating to an “underperform” rating in a research note to investors on Friday, August 16th. Finally, analysts at Robert W. Baird raised their price target on shares of Bemis Co. from $39.00 to $44.00 in a research note to investors on Friday, July 26th. They now have a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $40.86.
Bemis Company, Inc, is a manufacturer of packaging products and pressure sensitive materials. The Company’s business activities are organized around its three reportable business segments, U.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.