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

Amcor plc (NYSE:AMCR) has earned a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $10.73.

Several research firms recently issued reports on AMCR. Citigroup boosted their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. upped their target price on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Stifel Nicolaus started coverage on Amcor in a report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 target price for the company. Wells Fargo & Company lifted their price objective on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research note on Friday, August 16th. Finally, Robert W. Baird raised their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AMCR. Vanguard Group Inc. boosted its holdings in shares of Amcor by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after purchasing an additional 1,170,986 shares in the last quarter. M&G Plc boosted its stake in Amcor by 2,741.7% in the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after buying an additional 45,504,608 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Amcor by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock valued at $195,946,000 after acquiring an additional 2,086,698 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Amcor by 7.8% during the second quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock worth $194,783,000 after acquiring an additional 1,443,364 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Amcor in the 4th quarter worth approximately $155,438,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 0.4 %

Shares of NYSE:AMCR opened at $11.20 on Friday. The firm has a market cap of $16.18 billion, a P/E ratio of 24.88, a P/E/G ratio of 2.73 and a beta of 0.85. Amcor has a 12-month low of $8.45 and a 12-month high of $11.48. The business has a fifty day simple moving average of $10.95 and a 200 day simple moving average of $10.14. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the company earned $0.19 earnings per share. The firm’s revenue was down 3.8% compared to the same quarter last year. Analysts predict that Amcor will post 0.75 earnings per share for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 6th were given a dividend of $0.125 per share. The ex-dividend date was Friday, September 6th. This represents a $0.50 annualized dividend and a dividend yield of 4.47%. Amcor’s dividend payout ratio is currently 111.11%.

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.