Citigroup Issues Positive Forecast for Amcor (NYSE:AMCR) Stock Price

Amcor (NYSE:AMCR) had its price target boosted by Citigroup from $50.00 to $54.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the company. Truist Financial boosted their price target on Amcor from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Morgan Stanley lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective on the stock. in a research note on Wednesday, January 28th. Wells Fargo & Company boosted their target price on shares of Amcor from $9.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, January 21st. Finally, Robert W. Baird set a $54.00 price target on shares of Amcor in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.88.

Amcor Stock Performance

NYSE:AMCR opened at $49.72 on Thursday. The firm’s fifty day simple moving average is $43.29 and its 200 day simple moving average is $42.68. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 1.26. Amcor has a twelve month low of $38.33 and a twelve month high of $52.25. The firm has a market capitalization of $22.97 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 1.17 and a beta of 0.67.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $5.53 billion. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The firm’s quarterly revenue was up 68.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. As a group, equities research analysts expect that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Wednesday, February 25th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Wednesday, February 25th. Amcor’s payout ratio is currently 169.93%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Capital International Investors bought a new stake in shares of Amcor in the 4th quarter valued at approximately $354,227,000. Vanguard Group Inc. boosted its holdings in Amcor by 61.8% in the second quarter. Vanguard Group Inc. now owns 110,228,036 shares of the company’s stock worth $1,012,996,000 after purchasing an additional 42,122,135 shares during the period. State Street Corp boosted its holdings in Amcor by 41.4% in the second quarter. State Street Corp now owns 129,701,986 shares of the company’s stock worth $1,191,961,000 after purchasing an additional 37,982,310 shares during the period. Norges Bank bought a new stake in Amcor during the fourth quarter valued at $308,724,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Amcor by 62.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 80,770,303 shares of the company’s stock worth $742,279,000 after purchasing an additional 30,938,660 shares during the period. Institutional investors own 45.14% of the company’s stock.

About Amcor

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.