Jefferies Financial Group Begins Coverage on Amcor (NYSE:AMCR)

by · The Markets Daily

Jefferies Financial Group assumed coverage on shares of Amcor (NYSE:AMCR – Free Report) in a report released on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $12.00 price target on the stock.

AMCR has been the topic of a number of other reports. Raymond James Financial started coverage on Amcor in a research note on Tuesday, April 22nd. They issued a “market perform” rating on the stock. Wells Fargo & Company started coverage on Amcor in a research note on Thursday, June 26th. They issued an “overweight” rating and a $10.00 price target on the stock. UBS Group raised Amcor from a “neutral” rating to a “buy” rating in a research note on Thursday, June 26th. Finally, Truist Financial reduced their price objective on Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.30.

View Our Latest Report on Amcor

Amcor Trading Down 1.3%

Amcor stock opened at $9.57 on Wednesday. The stock has a 50-day moving average of $9.21 and a two-hundred day moving average of $9.51. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70. Amcor has a one year low of $8.37 and a one year high of $11.48. The stock has a market cap of $13.82 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 2.33 and a beta of 0.73.

Amcor (NYSE:AMCR – Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Amcor had a return on equity of 26.49% and a net margin of 5.99%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. On average, research analysts anticipate that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were given a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.33%. Amcor’s dividend payout ratio is currently 91.07%.

Institutional Investors Weigh In On Amcor

Several institutional investors and hedge funds have recently modified their holdings of AMCR. Fiduciary Financial Group LLC grew its stake in Amcor by 33.1% during the 2nd quarter. Fiduciary Financial Group LLC now owns 32,368 shares of the company’s stock worth $307,000 after purchasing an additional 8,045 shares in the last quarter. Kera Capital Partners Inc. acquired a new position in Amcor during the 2nd quarter worth $171,000. Strs Ohio acquired a new position in Amcor during the 1st quarter worth $1,697,000. Ellsworth Advisors LLC acquired a new position in Amcor during the 1st quarter worth $779,000. Finally, Focus Partners Wealth grew its stake in Amcor by 11.3% during the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after purchasing an additional 4,396 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Company Profile

(Get Free Report)

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.

Further Reading