Bemis Company, Inc. (BMS) Upgraded by Bank of America Corporation to “Neutral”
Bemis Company, Inc. (NYSE:BMS) was upgraded by equities research analysts at Bank of America Corporation from an “underperform” rating to a “neutral” rating in a report released on Friday, The Fly reports.
Other analysts have also issued reports about the stock. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $47.00 price objective (down from $49.00) on shares of Bemis in a research note on Thursday. UBS AG assumed coverage on shares of Bemis in a research note on Tuesday, July 25th. They set a “buy” rating and a $55.00 price objective for the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $44.00 price objective (down from $45.00) on shares of Bemis in a research note on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “sell” rating on shares of Bemis in a research note on Thursday, July 6th. Finally, BidaskClub lowered shares of Bemis from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $49.10.
Bemis (NYSE BMS) opened at 46.72 on Friday. The firm’s 50-day moving average is $43.10 and its 200-day moving average is $45.89. The firm has a market cap of $4.24 billion, a PE ratio of 21.07 and a beta of 0.90. Bemis has a 12 month low of $40.60 and a 12 month high of $51.98.
Bemis (NYSE:BMS) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.08). Bemis had a net margin of 5.18% and a return on equity of 18.53%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $0.67 earnings per share. Bemis’s revenue was down .9% compared to the same quarter last year. Equities analysts expect that Bemis will post $2.37 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Bemis by 2.3% in the second quarter. Vanguard Group Inc. now owns 9,363,600 shares of the industrial products company’s stock worth $482,132,000 after purchasing an additional 210,016 shares in the last quarter. BlackRock Inc. lifted its position in shares of Bemis by 4,921.3% in the first quarter. BlackRock Inc. now owns 8,605,872 shares of the industrial products company’s stock worth $420,485,000 after purchasing an additional 8,434,484 shares in the last quarter. State Street Corp lifted its position in shares of Bemis by 1.7% in the second quarter. State Street Corp now owns 6,345,626 shares of the industrial products company’s stock worth $293,486,000 after purchasing an additional 104,558 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Bemis by 41.6% in the first quarter. American Century Companies Inc. now owns 6,165,677 shares of the industrial products company’s stock worth $301,255,000 after purchasing an additional 1,811,549 shares in the last quarter. Finally, Mairs & Power INC lifted its position in shares of Bemis by 0.3% in the third quarter. Mairs & Power INC now owns 4,589,277 shares of the industrial products company’s stock worth $234,099,000 after purchasing an additional 15,855 shares in the last quarter. 75.74% of the stock is owned by institutional investors and hedge funds.
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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