Amcor PLC (NYSE:AMCR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Amcor PLC (NYSE:AMCR) has been assigned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $49.3333.

Several research firms have commented on AMCR. JPMorgan Chase & Co. reduced their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Robert W. Baird set a $54.00 price objective on Amcor in a research note on Wednesday, February 4th. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Truist Financial reaffirmed a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th.

Hedge Funds Weigh In On Amcor

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMCR. AdvisorNet Financial Inc acquired a new position in Amcor during the 1st quarter worth approximately $25,000. Western Wealth Management LLC acquired a new position in Amcor during the 1st quarter worth approximately $27,000. DV Equities LLC acquired a new position in Amcor during the 4th quarter worth approximately $27,000. Brown Lisle Cummings Inc. increased its position in Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after purchasing an additional 2,000 shares during the period. Finally, Larson Financial Group LLC increased its position in Amcor by 46.1% during the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after purchasing an additional 1,257 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Down 1.0%

Amcor stock opened at $38.87 on Friday. Amcor has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The company has a market capitalization of $17.97 billion, a P/E ratio of 27.18, a PEG ratio of 1.17 and a beta of 0.63. The stock has a 50-day simple moving average of $39.45 and a 200-day simple moving average of $42.27.

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

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be given a dividend of $0.65 per share. The ex-dividend date is Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.7%. Amcor’s payout ratio is presently 181.82%.

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.