Amcor plc (NYSE:AMCR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Amcor plc (NYSE:AMCR) have earned an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $10.94.

AMCR has been the subject of a number of recent research reports. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company raised their price target on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Robert W. Baird upped their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. raised their target price on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Finally, Citigroup increased their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th.

Amcor Price Performance

Shares of AMCR opened at $10.64 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The stock has a market cap of $15.38 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 1.92 and a beta of 0.85. The stock’s 50-day moving average price is $10.80 and its two-hundred day moving average price is $10.51. Amcor has a 1 year low of $8.78 and a 1 year high of $11.48.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate 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 firm earned $0.16 earnings per share. On average, equities analysts predict that Amcor will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.79%. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is 96.23%.

Hedge Funds Weigh In On Amcor

Hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC grew its position in Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares during the period. Rise Advisors LLC bought a new stake in shares of Amcor during the third quarter worth about $35,000. ORG Wealth Partners LLC bought a new position in Amcor in the 3rd quarter valued at about $35,000. True Wealth Design LLC boosted its stake in Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares during the last quarter. Finally, Quent Capital LLC increased its holdings in Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after purchasing an additional 1,241 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

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.