Amcor PLC (AMCR) – What Are Investment Firms Saying About This Stock?

by · The Markets Daily

Shares of Amcor PLC (NYSE:AMCR – Get Free Report) have received a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $49.36.

Several brokerages have commented on AMCR. Wells Fargo & Company raised their price target on shares of Amcor from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. Weiss Ratings raised Amcor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 29th. Citigroup reaffirmed a “buy” rating and set a $52.00 price objective (up from $47.00) on shares of Amcor in a research report on Friday, August 14th. Jefferies Financial Group set a $44.92 price objective on Amcor and gave the company a “hold” rating in a research note on Tuesday, July 21st. Finally, BMO Capital Markets started coverage on Amcor in a report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 target price for the company.

Get Our Latest Report on Amcor

Institutional Investors Weigh In On Amcor

A number of hedge funds have recently bought and sold shares of the stock. Foresight Capital Management Advisors Inc. acquired a new stake in Amcor in the third quarter valued at approximately $25,000. Bangor Savings Bank acquired a new position in Amcor during the 2nd quarter worth approximately $26,000. Western Wealth Management LLC acquired a new position in Amcor during the 1st quarter worth approximately $27,000. Palladiem LLC acquired a new position in Amcor during the 1st quarter worth approximately $34,000. Finally, Fortitude Family Office LLC increased its position in shares of Amcor by 216.9% in the 3rd quarter. Fortitude Family Office LLC now owns 954 shares of the company’s stock valued at $40,000 after purchasing an additional 653 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

AMCR stock opened at $46.99 on Wednesday. The business’s fifty day moving average price is $44.03 and its 200 day moving average price is $43.10. Amcor has a 12-month low of $36.25 and a 12-month high of $50.94. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $21.73 billion, a PE ratio of 12.26, a P/E/G ratio of 3.06 and a beta of 0.56.

Amcor (NYSE:AMCR – Get Free Report) last released its earnings results on Thursday, August 13th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. Amcor had a return on equity of 15.92% and a net margin of 4.71%. The company had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.05 billion. During the same period in the previous year, the company posted $0.20 EPS. Amcor’s revenue was up 25.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Amcor will post 1.83 EPS for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Friday, September 4th were issued a dividend of $0.65 per share. The ex-dividend date was Friday, September 4th. This represents a $2.60 annualized dividend and a yield of 5.5%. Amcor’s dividend payout ratio is 110.17%.

About Amcor

(Get Free Report)

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging solutions for food, beverage, pharmaceutical, medical, personal care, household, and other consumer and industrial products. Its offerings include flexible packaging, rigid containers, closures, bottles, specialty cartons, and related packaging systems designed to protect products, support supply chains, and improve convenience and sustainability.

The company serves customers across North America, Latin America, Europe, Asia-Pacific, and other international markets.

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