Amcor plc (NYSE:AMCR) Given Consensus Rating of “Hold” by Analysts

Amcor plc (NYSE:AMCR) has been assigned an average rating of “Hold” from the six brokerages that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $10.94.

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Citigroup boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Wells Fargo & Company raised their target price on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Finally, Robert W. Baird lifted their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th.

Institutional Investors Weigh In On Amcor

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC lifted its position in Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after buying an additional 2,319 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of Amcor in the 3rd quarter valued at $35,000. ORG Wealth Partners LLC bought a new position in shares of Amcor during the 3rd quarter valued at $35,000. Quent Capital LLC raised its position in Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after purchasing an additional 1,241 shares during the period. Finally, True Wealth Design LLC lifted its stake in Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

NYSE AMCR traded up $0.14 on Wednesday, reaching $10.53. The stock had a trading volume of 3,551,613 shares, compared to its average volume of 9,286,803. Amcor has a 1-year low of $8.78 and a 1-year high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The company has a market cap of $15.22 billion, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The firm has a fifty day moving average of $10.83 and a two-hundred day moving average of $10.51.

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

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 4.84%. Amcor’s dividend payout ratio is 96.23%.

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.