Bemis Company, Inc. (NYSE:BMS) Releases Earnings Results
Bemis Company, Inc. (NYSE:BMS) announced its quarterly earnings data on Thursday. The industrial products company reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.08, Bloomberg Earnings reports. Bemis had a net margin of 5.73% and a return on equity of 19.95%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. Bemis updated its FY17 guidance to $2.35-2.50 EPS.
Shares of Bemis (BMS) traded down 5.13% on Thursday, hitting $44.01. 1,535,200 shares of the stock traded hands. The firm has a market cap of $4.05 billion, a P/E ratio of 18.02 and a beta of 0.91. Bemis has a 12-month low of $42.50 and a 12-month high of $53.10. The firm’s 50-day moving average is $46.04 and its 200 day moving average is $47.42.
A number of equities research analysts have commented on the stock. Zacks Investment Research raised shares of Bemis from a “sell” rating to a “hold” rating in a research report on Monday, April 17th. Barclays PLC increased their price objective on shares of Bemis from $43.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, May 1st. BMO Capital Markets reissued a “hold” rating and issued a $48.00 price objective on shares of Bemis in a research report on Friday, June 2nd. UBS AG assumed coverage on shares of Bemis in a research report on Tuesday. They issued a “buy” rating and a $55.00 price objective on the stock. Finally, Credit Suisse Group reissued a “hold” rating and issued a $48.00 price objective on shares of Bemis in a research report on Friday, April 28th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Bemis presently has a consensus rating of “Hold” and a consensus price target of $47.40.
Several hedge funds have recently modified their holdings of BMS. Prudential Financial Inc. raised its stake in shares of Bemis by 6.3% in the first quarter. Prudential Financial Inc. now owns 76,915 shares of the industrial products company’s stock worth $3,758,000 after buying an additional 4,540 shares during the period. Pacer Advisors Inc. raised its stake in shares of Bemis by 14.0% in the first quarter. Pacer Advisors Inc. now owns 11,842 shares of the industrial products company’s stock worth $579,000 after buying an additional 1,450 shares during the period. ProShare Advisors LLC raised its stake in shares of Bemis by 35.1% in the first quarter. ProShare Advisors LLC now owns 184,802 shares of the industrial products company’s stock worth $9,029,000 after buying an additional 47,997 shares during the period. Dean Investment Associates LLC raised its stake in shares of Bemis by 31.4% in the first quarter. Dean Investment Associates LLC now owns 14,507 shares of the industrial products company’s stock worth $709,000 after buying an additional 3,469 shares during the period. Finally, Burney Co. bought a new stake in shares of Bemis during the first quarter worth about $213,000. Institutional investors and hedge funds own 79.58% of the company’s stock.
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Bemis Company, Inc is a manufacturer of packaging products. The Company operates through two segments: U.S. Packaging and Global Packaging. The U.S. Packaging segment represents all food, consumer, and industrial products packaging-related manufacturing operations located in the United States. The Global Packaging segment includes all packaging-related manufacturing operations located outside of the United States, as well as global medical device and pharmaceutical packaging-related manufacturing operations.
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