Amcor plc (NYSE:AMCR) Given Average Rating of “Hold” by Brokerages

Amcor plc (NYSE:AMCR) has earned a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $10.94.

A number of equities research analysts have recently commented on AMCR shares. Robert W. Baird lifted their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Wells Fargo & Company boosted their target price on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Citigroup upped their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. raised their price objective on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th.

Amcor Stock Performance

NYSE:AMCR traded up $0.14 during midday trading on Wednesday, reaching $10.53. 3,551,613 shares of the company traded hands, compared to its average volume of 9,286,803. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The firm has a market capitalization of $15.22 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. Amcor has a twelve month low of $8.78 and a twelve month high of $11.48. The company has a fifty day moving average price of $10.83 and a 200 day moving average price of $10.51.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.16 earnings per share. On average, analysts expect that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be issued a $0.1275 dividend. 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. This represents a $0.51 annualized dividend and a dividend yield of 4.84%. Amcor’s dividend payout ratio is presently 96.23%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Tidal Investments LLC boosted its holdings in Amcor by 292.5% during the third quarter. Tidal Investments LLC now owns 81,439 shares of the company’s stock worth $923,000 after purchasing an additional 60,691 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Amcor by 7.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 53,132 shares of the company’s stock valued at $557,000 after acquiring an additional 3,559 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Amcor in the third quarter valued at about $372,000. TCW Group Inc. acquired a new stake in shares of Amcor in the third quarter valued at about $224,000. Finally, Coldstream Capital Management Inc. boosted its position in Amcor by 40.5% during the third quarter. Coldstream Capital Management Inc. now owns 26,824 shares of the company’s stock valued at $294,000 after purchasing an additional 7,729 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

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.