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

Shares of Amcor PLC (NYSE:AMCR) have been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $48.40.

A number of equities research analysts have weighed in on AMCR shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target on the stock. Truist Financial reaffirmed a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Bank of America lifted their target price on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, BMO Capital Markets initiated coverage on shares of Amcor in a research report on Thursday. They issued a “market perform” rating and a $47.00 price target for the company.

Amcor Price Performance

Shares of AMCR stock opened at $43.96 on Monday. The stock has a 50 day moving average of $40.65 and a two-hundred day moving average of $42.18. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. Amcor has a 12 month low of $36.25 and a 12 month high of $50.94. The company has a market capitalization of $20.32 billion, a P/E ratio of 30.74, a P/E/G ratio of 1.38 and a beta of 0.62.

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

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio is currently 181.82%.

Hedge Funds Weigh In On Amcor

Several hedge funds and other institutional investors have recently modified their holdings of AMCR. State Street Corp grew its position in Amcor by 1.7% in the fourth quarter. State Street Corp now owns 141,509,581 shares of the company’s stock valued at $1,180,190,000 after acquiring an additional 2,432,340 shares during the period. M&G PLC boosted its stake in shares of Amcor by 6.1% in the 4th quarter. M&G PLC now owns 114,989,595 shares of the company’s stock valued at $919,917,000 after purchasing an additional 6,655,611 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after purchasing an additional 1,845,627 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Amcor by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock valued at $701,356,000 after purchasing an additional 2,036,667 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Amcor by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock worth $533,487,000 after purchasing an additional 262,418 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

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.