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

Shares of Amcor PLC (NYSE:AMCR) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat reports. Four investment 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 1-year price target among brokers that have covered the stock in the last year is $49.3333.

A number of brokerages have issued reports on AMCR. Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price for the company. Citigroup reduced their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Truist Financial reissued a “buy” rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Finally, Wells Fargo & Company set a $41.00 price objective on Amcor and gave the company an “equal weight” rating in a research report on Wednesday, May 20th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Amcor by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock worth $2,596,000 after purchasing an additional 20,757 shares during the period. Focus Partners Wealth lifted its position in Amcor by 11.3% in the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after purchasing an additional 4,396 shares during the period. Sivia Capital Partners LLC bought a new position in Amcor in the second quarter worth $138,000. Arrowstreet Capital Limited Partnership bought a new position in Amcor in the second quarter worth $6,426,000. Finally, CW Advisors LLC acquired a new position in Amcor during the second quarter worth $228,000. 45.14% of the stock is owned by institutional investors.

Amcor Stock Up 3.2%

Shares of Amcor stock opened at $41.73 on Thursday. The stock has a market capitalization of $19.29 billion, a P/E ratio of 29.18, a PEG ratio of 1.22 and a beta of 0.64. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The stock has a 50 day moving average price of $39.36 and a two-hundred day moving average price of $41.93. Amcor has a 12-month low of $36.25 and a 12-month high of $50.94.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.96. The firm had revenue of $5.91 billion during 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%.The company’s revenue was up 77.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. Equities analysts expect that Amcor will post 3.97 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s dividend payout ratio is currently 181.82%.

About Amcor

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.