Amcor (NYSE:AMCR) Shares to Reverse Split on Thursday, January 15th

Amcor PLC (NYSE:AMCR)’s stock is going to reverse split on the morning of Thursday, January 15th. The 1-5 reverse split was announced on Thursday, December 11th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, January 14th.

Amcor Trading Up 1.6%

NYSE AMCR opened at $8.46 on Tuesday. The company has a market capitalization of $19.49 billion, a PE ratio of 24.87, a P/E/G ratio of 0.82 and a beta of 0.68. Amcor has a 12 month low of $7.66 and a 12 month high of $10.45. The company has a current ratio of 1.04, a quick ratio of 0.62 and a debt-to-equity ratio of 1.09. The stock has a 50-day simple moving average of $8.31 and a 200 day simple moving average of $8.66.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Amcor had a return on equity of 17.35% and a net margin of 3.34%.The business’s revenue for the quarter was up 71.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.16 earnings per share. Research analysts forecast that Amcor will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Friday, November 28th were given a $0.13 dividend. The ex-dividend date was Friday, November 28th. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.2%. Amcor’s dividend payout ratio is presently 152.94%.

Analyst Ratings Changes

Several research firms have recently issued reports on AMCR. The Goldman Sachs Group began coverage on shares of Amcor in a research report on Wednesday, September 10th. They set a “buy” rating on the stock. Morgan Stanley reiterated an “overweight” rating and set a $11.50 price objective on shares of Amcor in a research note on Wednesday, November 12th. Wells Fargo & Company lowered their price target on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, October 15th. Weiss Ratings restated a “hold (c-)” rating on shares of Amcor in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. initiated coverage on Amcor in a research note on Friday, September 19th. They issued an “overweight” rating and a $10.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewSquare Capital LLC increased its position in shares of Amcor by 377.9% in the second quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock worth $26,000 after purchasing an additional 2,222 shares during the period. Quent Capital LLC bought a new position in shares of Amcor in the third quarter valued at approximately $27,000. AdvisorNet Financial Inc boosted its stake in shares of Amcor by 839.8% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock valued at $28,000 after purchasing an additional 2,704 shares in the last quarter. Adirondack Trust Co. bought a new position in shares of Amcor during the second quarter valued at approximately $29,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in Amcor during the second quarter valued at $33,000. 45.14% of the stock is 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.