Amcor PLC (NYSE:AMCR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Amcor PLC (NYSE:AMCRGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $49.4933.

Several analysts have commented on AMCR shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $47.00 price objective (up from $44.00) on shares of Amcor in a research note on Monday, August 17th. Citigroup reiterated a “buy” rating and issued a $52.00 price objective (up from $47.00) on shares of Amcor in a research note on Friday, August 14th. Bank of America raised their target price on shares of Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. BMO Capital Markets initiated coverage on shares of Amcor in a research report on Thursday, July 16th. They set a “market perform” rating and a $47.00 target price for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amcor in a report on Friday, August 7th.

Get Our Latest Stock Report on Amcor

Amcor Price Performance

AMCR opened at $45.17 on Tuesday. 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 business’s fifty day simple moving average is $45.43 and its 200-day simple moving average is $42.53. The company has a market capitalization of $20.88 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.47 and a beta of 0.60.

Amcor (NYSE:AMCRGet Free Report) last announced its earnings results on Thursday, August 13th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. The business had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.05 billion. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The firm’s revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. On average, equities research analysts anticipate that Amcor will post 1.84 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, September 4th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.60 dividend on an annualized basis and a yield of 5.8%. Amcor’s dividend payout ratio is presently 110.17%.

Institutional Trading of Amcor

Several institutional investors have recently modified their holdings of the stock. Brown Financial Advisors raised its holdings in Amcor by 3.9% in the 2nd quarter. Brown Financial Advisors now owns 6,287 shares of the company’s stock valued at $273,000 after acquiring an additional 237 shares during the last quarter. CYBER HORNET ETFs LLC boosted its holdings in shares of Amcor by 11.1% during the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock worth $37,000 after purchasing an additional 447 shares during the last quarter. FNY Investment Advisers LLC grew its position in shares of Amcor by 16.1% in the second quarter. FNY Investment Advisers LLC now owns 3,600 shares of the company’s stock valued at $156,000 after purchasing an additional 500 shares in the last quarter. FineMark National Bank & Trust grew its position in shares of Amcor by 0.6% in the fourth quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock valued at $671,000 after purchasing an additional 503 shares in the last quarter. Finally, Bangor Savings Bank acquired a new stake in shares of Amcor in the second quarter valued at approximately $26,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

About Amcor

(Get Free Report)

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.

Further Reading

Analyst Recommendations for Amcor (NYSE:AMCR)

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