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

Amcor plc (NYSE:AMCR) has been assigned an average rating of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $11.46.

Several research analysts have weighed in on AMCR shares. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a report on Wednesday, December 11th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and boosted their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th.

Amcor Stock Down 0.4 %

NYSE:AMCR opened at $10.06 on Monday. Amcor has a 12-month low of $8.80 and a 12-month high of $11.48. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $14.53 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.92 and a beta of 0.84. The stock’s fifty day simple moving average is $9.71 and its 200-day simple moving average is $10.43.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm’s revenue was down .3% on a year-over-year basis. During the same period last year, the company earned $0.09 EPS. Equities research analysts expect that Amcor will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio is currently 92.73%.

Institutional Trading of Amcor

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock valued at $555,064,000 after acquiring an additional 1,249,868 shares during the last quarter. M&G PLC increased its position in Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after buying an additional 2,775,794 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Amcor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after buying an additional 2,862,471 shares during the last quarter. Geode Capital Management LLC increased its position in Amcor by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company’s stock worth $345,952,000 after buying an additional 539,756 shares during the last quarter. Finally, Invesco Ltd. increased its position in Amcor by 16.0% during the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock worth $286,300,000 after buying an additional 4,199,209 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

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.