Amcor plc (NYSE:AMCR) Given Average Recommendation of “Hold” by Brokerages

Amcor plc (NYSE:AMCR) has received a consensus rating of “Hold” from the six research firms that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $10.73.

A number of research analysts have commented on AMCR shares. Stifel Nicolaus initiated coverage on shares of Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 target price on the stock. Robert W. Baird lifted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Wells Fargo & Company upped their target price on Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a report on Friday, August 16th. Citigroup increased their target price on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. boosted their price target on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AMCR. Riverview Trust Co acquired a new position in Amcor during the 1st quarter valued at approximately $28,000. Quent Capital LLC lifted its stake in shares of Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after buying an additional 1,241 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Amcor by 132.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after buying an additional 2,519 shares during the last quarter. UMB Bank n.a. increased its position in shares of Amcor by 38.7% in the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after acquiring an additional 1,299 shares during the period. Finally, ORG Partners LLC purchased a new position in Amcor in the 2nd quarter worth $47,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Up 1.0 %

Shares of NYSE AMCR opened at $10.99 on Tuesday. The stock has a 50 day moving average price of $10.60 and a 200 day moving average price of $9.95. The firm has a market capitalization of $15.88 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.68 and a beta of 0.85. Amcor has a 52-week low of $8.45 and a 52-week high of $11.45. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. The business had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 EPS. Sell-side analysts expect that Amcor will post 0.75 earnings per share for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Friday, September 6th. Amcor’s dividend payout ratio is currently 111.11%.

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.