Amcor (NYSE:AMCR) Stock Bumped Down to “Hold” by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft cut shares of Amcor (NYSE:AMCR – Free Report) from a buy rating to a hold rating in a research note issued to investors on Thursday, MarketBeat Ratings reports.

AMCR has been the subject of several other research reports. BMO Capital Markets began coverage on shares of Amcor in a research note on Thursday, July 16th. They set a “market perform” rating and a $47.00 target price for the company. Jefferies Financial Group set a $44.92 price target on shares of Amcor and gave the company a “hold” rating in a research note on Tuesday, July 21st. Citigroup reissued a “buy” rating and issued a $52.00 price target (up from $47.00) on shares of Amcor in a research note on Friday, August 14th. Weiss Ratings upgraded shares of Amcor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 29th. Finally, UBS Group initiated coverage on shares of Amcor in a research report on Tuesday, August 11th. They set a “buy” rating and a $56.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.54.

View Our Latest Report on AMCR

Amcor Stock Performance

Shares of Amcor stock opened at $45.97 on Thursday. The firm has a market cap of $21.26 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 3.03 and a beta of 0.56. The company has a quick ratio of 0.76, a current ratio of 1.25 and a debt-to-equity ratio of 1.17. Amcor has a 52 week low of $36.25 and a 52 week high of $50.94. The business’s fifty day simple moving average is $44.03 and its 200-day simple moving average is $43.15.

Amcor (NYSE:AMCR – Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.01). The business had revenue of $6.13 billion for the quarter, compared to analyst estimates of $5.75 billion. Amcor had a return on equity of 15.86% and a net margin of 4.55%. During the same period in the previous year, the business posted $0.11 earnings per share. Equities analysts forecast that Amcor will post 1.83 earnings per share for the current year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, November 25th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, November 25th. This is a positive change from Amcor’s previous quarterly dividend of $0.65. Amcor’s dividend payout ratio is currently 110.17%.

Hedge Funds Weigh In On Amcor

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. M&G PLC purchased a new stake in shares of Amcor in the 3rd quarter valued at approximately $1,109,726,000. Bank of New York Mellon Corp acquired a new stake in shares of Amcor in the 2nd quarter valued at $90,556,000. Rubric Capital Management LP acquired a new stake in shares of Amcor in the 1st quarter valued at $50,458,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Amcor by 2.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,162,944 shares of the company’s stock worth $48,681,000 after purchasing an additional 22,471 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new stake in shares of Amcor during the 2nd quarter worth $39,470,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor News Roundup

Here are the key news stories impacting Amcor this week:

  • Positive Sentiment: Revenue was $6.13 billion, above the $5.75 billion consensus, with higher volumes supporting growth. Amcor earnings and outlook
  • Positive Sentiment: Amcor raised its quarterly dividend 1.5% to $0.66 per share, equivalent to a $2.64 annualized payout. This may support the stock’s appeal to income-focused investors.
  • Positive Sentiment: Truist raised its price target to $53 from $51 and maintained a Buy rating. Truist price target update
  • Neutral Sentiment: Amcor’s DecoFusion tube received a sustainability technology award, while a separate lightweight closure launch was promoted for improved recyclability. These product developments could support its sustainability positioning over time. DecoFusion award Lightweight closure
  • Negative Sentiment: Quarterly EPS of $0.95 narrowly missed the $0.96 estimate. Amcor also cut its transition-period EPS outlook, citing higher costs, raising concern that cost pressures may weigh on near-term earnings. Amcor earnings and outlook
  • Negative Sentiment: Deutsche Bank downgraded Amcor from Buy to Hold, adding a more cautious analyst view. Deutsche Bank rating information

Amcor Company Profile

(Get Free Report)

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging solutions for food, beverage, pharmaceutical, medical, personal care, household, and other consumer and industrial products. Its offerings include flexible packaging, rigid containers, closures, bottles, specialty cartons, and related packaging systems designed to protect products, support supply chains, and improve convenience and sustainability.

The company serves customers across North America, Latin America, Europe, Asia-Pacific, and other international markets.

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Analyst Recommendations for Amcor (NYSE:AMCR)

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