JPMorgan Chase & Co. restated their neutral rating on shares of Amcor (NYSE:AMCR – Free Report) in a research report report published on Monday, Marketbeat reports. The brokerage currently has a $47.00 target price on the stock, up from their prior target price of $44.00.
A number of other research analysts have also issued reports on AMCR. Wells Fargo & Company lifted their target price on Amcor from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, August 14th. Bank of America upped their price target on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Citigroup reaffirmed a “buy” rating and issued a $52.00 price target (up from $47.00) on shares of Amcor in a research report on Friday, August 14th. UBS Group began coverage on Amcor in a research note on Tuesday, August 11th. They issued a “buy” rating and a $56.00 price objective for the company. Finally, BMO Capital Markets assumed coverage on Amcor in a research report on Thursday, July 16th. They set a “market perform” rating and a $47.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.49.
View Our Latest Stock Report on AMCR
Amcor Price Performance
Amcor (NYSE:AMCR – Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.19 by $0.04. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The business had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.05 billion. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, research analysts expect that Amcor will post 4.2 EPS for the current fiscal year.
Amcor Announces Dividend
The firm also recently announced 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. This represents a $2.60 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Friday, September 4th. Amcor’s dividend payout ratio is 110.17%.
Institutional Trading of Amcor
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Greenleaf Trust acquired a new position in shares of Amcor during the 2nd quarter worth about $280,000. New Mexico Educational Retirement Board raised its position in shares of Amcor by 9.0% during the 2nd quarter. New Mexico Educational Retirement Board now owns 22,930 shares of the company’s stock worth $994,000 after acquiring an additional 1,900 shares in the last quarter. Mufg Securities Americas Inc. raised its position in shares of Amcor by 8.9% during the 2nd quarter. Mufg Securities Americas Inc. now owns 13,926 shares of the company’s stock worth $604,000 after acquiring an additional 1,141 shares in the last quarter. Navellier & Associates Inc. lifted its stake in Amcor by 28.4% during the second quarter. Navellier & Associates Inc. now owns 18,471 shares of the company’s stock worth $801,000 after purchasing an additional 4,088 shares during the last quarter. Finally, North Star Asset Management Inc. purchased a new stake in Amcor during the second quarter worth approximately $2,459,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.
Amcor Company Profile
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.
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