Amcor plc (NYSE:AMCR) Receives $11.46 Average Target Price from Analysts

Shares of Amcor plc (NYSE:AMCR) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $11.46.

Several equities research analysts recently issued reports on the company. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research note on Wednesday, December 11th. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Amcor by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock worth $555,064,000 after acquiring an additional 1,249,868 shares in the last quarter. M&G PLC raised its position in shares of Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after acquiring an additional 2,775,794 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Amcor by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after acquiring an additional 2,862,471 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Amcor by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company’s stock worth $345,952,000 after acquiring an additional 539,756 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Amcor by 16.0% in the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock worth $286,300,000 after acquiring an additional 4,199,209 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

Amcor Trading Down 0.4 %

Shares of NYSE:AMCR opened at $10.06 on Monday. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The stock has a market cap of $14.53 billion, a PE ratio of 18.28, a P/E/G ratio of 1.92 and a beta of 0.84. The business has a 50 day moving average of $9.71 and a 200-day moving average of $10.43. Amcor has a 12-month low of $8.80 and a 12-month high of $11.48.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 earnings per share. As a group, equities research analysts forecast that Amcor will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be given a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

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.