Amcor PLC (NYSE:AMCR) Given Consensus Rating of “Moderate Buy” by Brokerages

Amcor PLC (NYSE:AMCR) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $49.3333.

A number of equities research analysts have weighed in on AMCR shares. Wells Fargo & Company set a $41.00 price target on shares of Amcor and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target for the company. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Truist Financial reissued a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Finally, Citigroup cut their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th.

Institutional Trading of Amcor

Several institutional investors and hedge funds have recently bought and sold shares of AMCR. State Street Corp grew its stake in shares of Amcor by 1.7% in the 4th quarter. State Street Corp now owns 141,509,581 shares of the company’s stock valued at $1,180,190,000 after buying an additional 2,432,340 shares in the last quarter. M&G PLC raised its holdings in Amcor by 6.1% during the fourth quarter. M&G PLC now owns 114,989,595 shares of the company’s stock valued at $919,917,000 after buying an additional 6,655,611 shares in the last quarter. Vanguard Group Inc. raised its holdings in Amcor by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after buying an additional 1,845,627 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Amcor by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock valued at $701,356,000 after buying an additional 2,036,667 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Amcor by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock valued at $533,487,000 after buying an additional 262,418 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

AMCR stock opened at $41.73 on Thursday. The company has a market capitalization of $19.29 billion, a P/E ratio of 29.18, a PEG ratio of 1.22 and a beta of 0.64. The company has a 50-day simple moving average of $39.36 and a 200 day simple moving average of $41.93. Amcor has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30.

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

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 6.2%. The ex-dividend date was Thursday, May 28th. Amcor’s payout ratio is presently 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.