Zacks: Brokerages Anticipate Bemis Company, Inc. (BMS) Will Announce Earnings of $0.64 Per Share
Wall Street brokerages expect Bemis Company, Inc. (NYSE:BMS) to post earnings of $0.64 per share for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Bemis’ earnings, with the highest EPS estimate coming in at $0.68 and the lowest estimate coming in at $0.59. Bemis reported earnings of $0.75 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 14.7%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, October 26th.
On average, analysts expect that Bemis will report full year earnings of $2.37 per share for the current year, with EPS estimates ranging from $2.35 to $2.40. For the next year, analysts expect that the business will report earnings of $2.66 per share, with EPS estimates ranging from $2.35 to $2.80. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Bemis.
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 Thomson Reuters’ consensus estimate of $0.56 by ($0.08). The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Bemis had a return on equity of 18.53% and a net margin of 5.18%. Bemis’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share.
A number of research analysts have recently issued reports on BMS shares. BidaskClub upgraded Bemis from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. BMO Capital Markets upgraded Bemis from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $48.00 to $52.00 in a report on Thursday, June 22nd. Barclays PLC upgraded Bemis from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $43.00 to $54.00 in a report on Tuesday, June 27th. Royal Bank Of Canada reiterated a “sell” rating on shares of Bemis in a report on Thursday, July 6th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $45.00 price target (up from $40.00) on shares of Bemis in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.80.
Several institutional investors have recently made changes to their positions in the stock. Curbstone Financial Management Corp increased its stake in shares of Bemis by 102.0% in the 3rd quarter. Curbstone Financial Management Corp now owns 15,190 shares of the industrial products company’s stock valued at $692,000 after purchasing an additional 7,670 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Bemis in the 2nd quarter valued at about $626,000. Public Employees Retirement System of Ohio increased its stake in shares of Bemis by 3.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 33,293 shares of the industrial products company’s stock valued at $1,540,000 after purchasing an additional 1,011 shares in the last quarter. Verition Fund Management LLC increased its stake in shares of Bemis by 192.2% in the 2nd quarter. Verition Fund Management LLC now owns 17,679 shares of the industrial products company’s stock valued at $818,000 after purchasing an additional 11,629 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Bemis by 3.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 37,488 shares of the industrial products company’s stock valued at $1,732,000 after purchasing an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 75.65% of the company’s stock.
Shares of Bemis (NYSE:BMS) traded up 0.13% during midday trading on Friday, reaching $46.54. The company had a trading volume of 25,425 shares. The firm’s 50 day moving average price is $44.91 and its 200-day moving average price is $45.61. Bemis has a 1-year low of $40.60 and a 1-year high of $51.98. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 20.99 and a beta of 0.90.
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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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