Amcor plc (NYSE:AMCR) Receives Average Recommendation of “Moderate Buy” from Analysts

Amcor plc (NYSE:AMCR) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $11.20.

A number of equities analysts recently commented on AMCR shares. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company increased their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research report on Wednesday, December 11th.

Amcor Stock Down 0.2 %

AMCR stock opened at $9.44 on Friday. The business’s 50-day moving average is $10.26 and its two-hundred day moving average is $10.49. The company has a market cap of $13.64 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.80 and a beta of 0.82. Amcor has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 EPS. As a group, analysts forecast that Amcor will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were issued a $0.1275 dividend. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date of this dividend was Thursday, November 21st. Amcor’s payout ratio is currently 96.23%.

Institutional Investors Weigh In On Amcor

Several large investors have recently made changes to their positions in AMCR. Fifth Third Wealth Advisors LLC bought a new stake in Amcor in the 2nd quarter worth approximately $119,000. Verdence Capital Advisors LLC raised its stake in Amcor by 4.3% during the second quarter. Verdence Capital Advisors LLC now owns 112,765 shares of the company’s stock valued at $1,103,000 after purchasing an additional 4,688 shares in the last quarter. AlphaStar Capital Management LLC lifted its position in Amcor by 37.9% during the second quarter. AlphaStar Capital Management LLC now owns 35,984 shares of the company’s stock valued at $352,000 after purchasing an additional 9,895 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Amcor by 3.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 101,928 shares of the company’s stock worth $997,000 after buying an additional 3,828 shares in the last quarter. Finally, Lester Murray Antman dba SimplyRich increased its holdings in shares of Amcor by 10.0% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 57,933 shares of the company’s stock worth $566,000 after buying an additional 5,266 shares during the last quarter. 45.14% of the stock is 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.