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

Shares of Amcor plc (NYSE:AMCR) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $11.20.

Several research analysts have issued reports on the company. Wells Fargo & Company lifted their price target on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research note on Wednesday, December 11th. Finally, Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th.

Hedge Funds Weigh In On Amcor

Hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC raised its holdings in shares of 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 purchasing an additional 2,319 shares during the period. Rise Advisors LLC acquired a new stake in Amcor during the 3rd quarter worth approximately $35,000. ORG Wealth Partners LLC purchased a new position in Amcor in the third quarter valued at approximately $35,000. True Wealth Design LLC lifted its position in Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Amcor by 38.7% during the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after buying an additional 1,299 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE:AMCR opened at $9.40 on Friday. The company’s fifty day moving average price is $10.44 and its 200 day moving average price is $10.51. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. Amcor has a 12 month low of $8.78 and a 12 month high of $11.48. The firm has a market capitalization of $13.59 billion, a P/E ratio of 17.74, a P/E/G ratio of 1.80 and a beta of 0.82.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 EPS. As a group, sell-side analysts predict that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date was Thursday, November 21st. This is a positive change from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is currently 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.