Amcor PLC (NYSE:AMCR) Receives Average Recommendation of “Moderate Buy” from Analysts

Amcor PLC (NYSE:AMCR) has earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $49.3333.

Several research analysts recently commented on AMCR shares. Robert W. Baird set a $54.00 target price on Amcor in a research note on Wednesday, February 4th. Wells Fargo & Company set a $41.00 target price on Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup decreased their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. decreased their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th.

Institutional Trading of Amcor

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Amcor by 8.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock valued at $2,596,000 after purchasing an additional 20,757 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Amcor by 11.3% in the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock valued at $418,000 after purchasing an additional 4,396 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Amcor in the 2nd quarter valued at about $138,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Amcor in the 2nd quarter valued at about $6,426,000. Finally, CW Advisors LLC purchased a new stake in shares of Amcor in the 2nd quarter valued at about $228,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Trading Down 1.0%

AMCR opened at $38.87 on Friday. Amcor has a 12 month low of $36.25 and a 12 month high of $50.94. The stock has a market capitalization of $17.97 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.17 and a beta of 0.63. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The business has a fifty day moving average price of $39.45 and a 200 day moving average price of $42.27.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the previous year, the firm posted $0.90 EPS. Amcor’s revenue for the quarter was up 77.4% on a year-over-year basis. Sell-side analysts expect that Amcor will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend is Thursday, May 28th. Amcor’s payout ratio is 181.82%.

Amcor Company Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.