Amcor plc (NYSE:AMCR) Receives $10.78 Average PT from Brokerages

Amcor plc (NYSE:AMCR) has been given a consensus rating of “Hold” by the six analysts that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $10.78.

AMCR has been the subject of a number of research reports. Citigroup raised their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Wells Fargo & Company raised their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Stifel Nicolaus started coverage on Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 target price on the stock. JPMorgan Chase & Co. increased their price target on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Finally, Robert W. Baird lifted their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th.

Institutional Investors Weigh In On Amcor

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Amcor by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock valued at $539,686,000 after purchasing an additional 1,170,986 shares during the period. M&G PLC increased its stake in Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after buying an additional 2,775,794 shares during the period. M&G Plc lifted its position in Amcor by 2,741.7% in the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after buying an additional 45,504,608 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Amcor by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock valued at $195,946,000 after buying an additional 2,086,698 shares during the period. Finally, ProShare Advisors LLC grew its holdings in shares of Amcor by 7.8% during the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock valued at $194,783,000 after acquiring an additional 1,443,364 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Performance

Shares of NYSE AMCR opened at $10.26 on Wednesday. Amcor has a 1 year low of $8.71 and a 1 year high of $11.48. The firm has a market cap of $14.83 billion, a P/E ratio of 20.12, a PEG ratio of 1.98 and a beta of 0.85. The stock has a fifty day moving average price of $11.13 and a two-hundred day moving average price of $10.40. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17.

Amcor (NYSE:AMCR) last released its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the company earned $0.16 earnings per share. Amcor’s revenue was down 2.6% compared to the same quarter last year. Research analysts forecast that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 4.97%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s payout ratio is presently 98.04%.

Amcor Company Profile

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.