Amcor (NYSE:AMCR) Announces Earnings Results

by · The Markets Daily

Amcor (NYSE:AMCR – Get Free Report) released its quarterly earnings data on Tuesday. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.69, FiscalAI reports. Amcor had a return on equity of 17.35% and a net margin of 3.34%.

Amcor Stock Performance

Shares of NYSE:AMCR traded up $1.20 during trading on Tuesday, reaching $44.95. The company had a trading volume of 8,934,495 shares, compared to its average volume of 6,118,101. The firm has a market capitalization of $20.72 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 1.03 and a beta of 0.67. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.04 and a quick ratio of 0.62. Amcor has a fifty-two week low of $38.33 and a fifty-two week high of $52.25. The stock’s fifty day moving average price is $42.38 and its 200 day moving average price is $42.61.

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Friday, November 28th were paid a $0.65 dividend. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, November 28th. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. Amcor’s dividend payout ratio (DPR) is 152.94%.

Institutional Investors Weigh In On Amcor

Institutional investors have recently added to or reduced their stakes in 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 buying an additional 20,757 shares during the period. Focus Partners Wealth grew its holdings in Amcor by 11.3% during the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after acquiring an additional 4,396 shares during the period. Sivia Capital Partners LLC purchased a new position in Amcor in the second quarter worth $138,000. Arrowstreet Capital Limited Partnership acquired a new stake in Amcor in the second quarter valued at $6,426,000. Finally, CW Advisors LLC purchased a new stake in shares of Amcor during the 2nd quarter worth $228,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AMCR shares. Morgan Stanley downgraded Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target for the company. in a report on Wednesday, January 28th. Robert W. Baird upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, January 21st. Truist Financial boosted their price target on shares of Amcor from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Wells Fargo & Company upped their price objective on shares of Amcor from $9.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.14.

Read Our Latest Report on Amcor

About Amcor

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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.

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