Amcor PLC (NYSE:AMCR) Receives $48.40 Consensus Target Price from Analysts

Shares of Amcor PLC (NYSE:AMCR) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $48.0836.

AMCR has been the subject of a number of research reports. Truist Financial reaffirmed a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. decreased their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Wells Fargo & Company set a $43.00 price objective on Amcor and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. Finally, BMO Capital Markets started coverage on shares of Amcor in a report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price target on the stock.

Amcor Trading Down 0.5%

AMCR opened at $43.21 on Monday. The business has a fifty day simple moving average of $40.87 and a 200-day simple moving average of $42.21. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. Amcor has a 52 week low of $36.25 and a 52 week high of $50.94. The firm has a market cap of $19.98 billion, a P/E ratio of 30.22, a P/E/G ratio of 1.36 and a beta of 0.62.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same period last year, the firm earned $0.90 earnings per share. The company’s revenue for the quarter was up 77.4% compared to the same quarter last year. On average, equities analysts expect that Amcor will post 3.97 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were paid a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 6.0%. Amcor’s dividend payout ratio is 181.82%.

Institutional Investors Weigh In On Amcor

Several hedge funds and other institutional investors have recently modified their holdings of AMCR. Dakota Wealth Management boosted its holdings in shares of Amcor by 74.6% during the 4th quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock worth $2,881,000 after buying an additional 147,639 shares during the period. PFG Investments LLC bought a new position in Amcor in the 4th quarter valued at about $262,000. Vanguard Group Inc. lifted its position in Amcor by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after acquiring an additional 1,845,627 shares during the last quarter. Code Waechter LLC lifted its position in Amcor by 105.1% during the fourth quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock worth $451,000 after acquiring an additional 27,725 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Amcor by 64.0% during the fourth quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock worth $2,034,000 after acquiring an additional 94,753 shares during the period. Institutional investors own 45.14% of the company’s stock.

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.