Amcor plc (NYSE:AMCR) Given Average Rating of “Hold” by Brokerages

Shares of Amcor plc (NYSE:AMCR) have earned an average recommendation of “Hold” from the five analysts that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and one has assigned 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.

AMCR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective 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. Stifel Nicolaus initiated coverage on Amcor in a report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 target price on the stock. Wells Fargo & Company lifted their price target on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Robert W. Baird upped their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Finally, Citigroup raised their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th.

Institutional Trading of Amcor

A number of large investors have recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in Amcor during the 3rd quarter worth $35,000. ORG Wealth Partners LLC acquired a new stake in shares of Amcor during the third quarter worth about $35,000. Quent Capital LLC grew its holdings in shares of Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after buying an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Amcor by 132.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after acquiring an additional 2,519 shares during the period. Finally, UMB Bank n.a. raised its stake in Amcor by 38.7% during the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after acquiring an additional 1,299 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Price Performance

Amcor stock opened at $10.26 on Wednesday. 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 has a 52-week low of $8.71 and a 52-week high of $11.48. The firm has a market cap of $14.83 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 2.00 and a beta of 0.85. The company’s 50 day moving average is $11.13 and its two-hundred day moving average is $10.42.

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

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders 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 dividend yield of 4.97%. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is 94.34%.

About Amcor

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.