Amcor PLC (NYSE:AMCR) Receives $48.40 Average Price Target from Analysts

Shares of Amcor PLC (NYSE:AMCR) have earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $48.0836.

A number of research firms have recently commented on AMCR. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price on the stock. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Jefferies Financial Group set a $44.92 target price on Amcor and gave the company a “hold” rating in a research note on Tuesday, July 21st. Citigroup cut their price target on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, BMO Capital Markets began coverage on Amcor in a research note on Thursday, July 16th. They set a “market perform” rating and a $47.00 price objective for the company.

Amcor Stock Up 0.1%

Shares of NYSE AMCR opened at $44.60 on Monday. The stock has a market cap of $20.62 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 1.40 and a beta of 0.62. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. Amcor has a 52-week low of $36.25 and a 52-week high of $50.94. The business has a 50-day moving average price of $41.11 and a 200 day moving average price of $42.23.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.96. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.Amcor’s revenue was up 77.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. Equities research analysts forecast that Amcor will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 5.8%. Amcor’s dividend payout ratio is 181.82%.

Hedge Funds Weigh In On Amcor

Several hedge funds and other institutional investors have recently made changes to their positions in AMCR. AdvisorNet Financial Inc acquired a new stake in Amcor in the first quarter worth approximately $25,000. Bangor Savings Bank bought a new position in Amcor during the 2nd quarter valued at $26,000. Western Wealth Management LLC acquired a new position in shares of Amcor during the 1st quarter valued at $27,000. DV Equities LLC acquired a new position in shares of Amcor during the 4th quarter valued at $27,000. Finally, Brown Lisle Cummings Inc. raised its stake in shares of Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

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.