SunTrust Banks Weighs in on Bemis Company, Inc.’s Q3 2017 Earnings (BMS)
Bemis Company, Inc. (NYSE:BMS) – Equities researchers at SunTrust Banks issued their Q3 2017 EPS estimates for shares of Bemis in a note issued to investors on Wednesday. SunTrust Banks analyst J. Freuchtel expects that the industrial products company will post earnings per share of $0.66 for the quarter. SunTrust Banks currently has a “Hold” rating and a $47.00 target price on the stock. SunTrust Banks also issued estimates for Bemis’ Q4 2017 earnings at $0.66 EPS, FY2017 earnings at $2.37 EPS, Q1 2018 earnings at $0.62 EPS, Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.78 EPS, Q4 2018 earnings at $0.77 EPS and FY2018 earnings at $2.80 EPS.
Several other research firms have also commented on BMS. BidaskClub raised shares of Bemis from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Barclays PLC raised shares of Bemis from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $43.00 to $54.00 in a report on Tuesday, June 27th. Citigroup Inc. reaffirmed a “hold” rating on shares of Bemis in a report on Thursday, August 31st. Royal Bank Of Canada reaffirmed a “sell” rating on shares of Bemis in a report on Thursday, July 6th. Finally, Bank of America Corporation raised shares of Bemis from an “underperform” rating to a “neutral” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $49.10.
Shares of Bemis (NYSE:BMS) opened at 46.72 on Friday. The stock has a market cap of $4.24 billion, a PE ratio of 21.07 and a beta of 0.90. Bemis has a 52 week low of $40.60 and a 52 week high of $51.98. The firm has a 50-day moving average price of $43.10 and a 200-day moving average price of $45.89.
Bemis (NYSE:BMS) last issued its quarterly earnings data 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 firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the firm posted $0.67 EPS. Bemis’s quarterly revenue was down .9% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Thursday, August 17th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Tuesday, August 15th. Bemis’s dividend payout ratio (DPR) is presently 54.30%.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Bemis by 4,921.3% in the 1st 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 during the period. Vanguard Group Inc. lifted its position in shares of Bemis by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 8,464,812 shares of the industrial products company’s stock worth $413,591,000 after purchasing an additional 445,901 shares during the period. State Street Corp lifted its position in shares of Bemis by 1.7% in the 2nd 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 during the period. Dimensional Fund Advisors LP lifted its position in shares of Bemis by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,180,235 shares of the industrial products company’s stock worth $54,593,000 after purchasing an additional 38,853 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its position in shares of Bemis by 8.6% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 763,621 shares of the industrial products company’s stock worth $35,317,000 after purchasing an additional 60,787 shares during the period. 75.74% of the stock is currently owned by institutional investors and hedge funds.
Bemis Company Profile
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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