Amcor plc (NYSE:AMCR) Receives $10.78 Average PT from Analysts

Amcor plc (NYSE:AMCR) has earned an average recommendation of “Hold” from the five analysts that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $10.94.

A number of brokerages recently weighed in on AMCR. Wells Fargo & Company upped their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Citigroup upped their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Stifel Nicolaus started coverage on shares of Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price objective for the company. Robert W. Baird upped their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th.

Amcor Stock Down 7.8 %

Shares of Amcor stock opened at $10.26 on Wednesday. The company has a market cap of $14.83 billion, a P/E ratio of 19.36, a PEG ratio of 2.00 and a beta of 0.85. The firm has a fifty day moving average of $11.13 and a two-hundred day moving average of $10.42. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17. Amcor has a one year low of $8.71 and a one year high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm earned $0.16 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year. On average, analysts forecast that Amcor will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.1275 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 4.97%. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is presently 94.34%.

Institutional Investors Weigh In On Amcor

A number of institutional investors and hedge funds have recently bought and sold shares of AMCR. M&G Plc lifted its holdings in Amcor by 2,741.7% in the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after purchasing an additional 45,504,608 shares in the last quarter. M&G PLC raised its position in shares of Amcor by 5.9% in the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after buying an additional 2,775,794 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Amcor by 356.1% during the second quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock valued at $28,659,000 after buying an additional 2,287,826 shares during the period. Price T Rowe Associates Inc. MD boosted 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 worth $195,946,000 after acquiring an additional 2,086,698 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Amcor by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock worth $143,989,000 after acquiring an additional 1,527,492 shares during the period. Hedge funds and other 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.