Amcor PLC (NYSE:AMCR) Receives $49.49 Average Target Price from Analysts

Amcor PLC (NYSE:AMCR) has been assigned an average rating of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $49.4933.

A number of equities analysts have recently commented on AMCR shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $47.00 target price (up from $44.00) on shares of Amcor in a report on Monday, August 17th. UBS Group assumed coverage on shares of Amcor in a research report on Tuesday, August 11th. They set a “buy” rating and a $56.00 price objective on the stock. Citigroup reaffirmed a “buy” rating and issued a $52.00 target price (up from $47.00) on shares of Amcor in a report on Friday, August 14th. Truist Financial set a $51.00 target price on shares of Amcor in a research note on Tuesday, August 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Amcor in a report on Friday, August 7th.

Institutional Investors Weigh In On Amcor

Several large investors have recently modified their holdings of AMCR. Bangor Savings Bank purchased a new position in Amcor in the second quarter valued at about $26,000. AdvisorNet Financial Inc acquired a new stake in shares of Amcor during the 1st quarter valued at approximately $25,000. Western Wealth Management LLC purchased a new stake in shares of Amcor during the 1st quarter worth approximately $27,000. Palladiem LLC acquired a new stake in shares of Amcor in the 1st quarter worth approximately $34,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Amcor in the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 0.1%

AMCR opened at $42.35 on Tuesday. The business’s 50-day simple moving average is $45.30 and its 200-day simple moving average is $42.28. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.76 and a current ratio of 1.25. Amcor has a one year low of $36.25 and a one year high of $50.94. The stock has a market capitalization of $19.58 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 1.65 and a beta of 0.60.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, August 13th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. The firm had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.05 billion. Amcor had a return on equity of 15.92% and a net margin of 4.71%.The business’s revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. Analysts anticipate that Amcor will post 2.58 EPS for the current year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Friday, September 4th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Friday, September 4th. Amcor’s dividend payout ratio (DPR) is presently 110.17%.

About Amcor

Amcor plc (NYSE: AMCR) is a global packaging company that develops and manufactures packaging products for the food, beverage, pharmaceutical, medical, personal care, household and other consumer and industrial markets. Its portfolio is designed to help protect products, extend shelf life, support transportation and improve convenience and sustainability.

The company produces flexible packaging, including films, pouches, bags, lidding and specialty laminates, as well as rigid packaging such as bottles, containers, closures and other molded products.