Analysts Set Amcor plc (NYSE:AMCR) PT at $10.94

Shares of Amcor plc (NYSE:AMCR) have earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $10.94.

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. boosted 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. Citigroup raised their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird boosted their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Finally, Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th.

Institutional Trading of Amcor

Large investors have recently modified their holdings of the business. Larson Financial Group LLC lifted its stake in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after purchasing an additional 2,319 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of Amcor during the third quarter worth about $35,000. ORG Wealth Partners LLC bought a new stake in shares of Amcor in the 3rd quarter worth approximately $35,000. Quent Capital LLC increased its stake in shares of Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after buying an additional 1,241 shares during the period. Finally, True Wealth Design LLC increased its position in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Amcor stock opened at $10.64 on Wednesday. The stock has a market cap of $15.38 billion, a P/E ratio of 20.08, a P/E/G ratio of 1.92 and a beta of 0.85. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The company’s 50 day moving average price is $10.80 and its two-hundred day moving average price is $10.51. Amcor has a 52 week low of $8.78 and a 52 week high of $11.48.

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

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 4.79%. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is presently 96.23%.

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.