Zacks Investment Research upgraded shares of Bemis Company, Inc. (NYSE:BMS) from a sell rating to a hold rating in a research note released on Monday morning.
According to Zacks, “Bemis is poised to gain from focus on process and efficiency improvement. Further, its focus on innovation will help capitalize on increasing package sophistication in the global business. Moreover, execution of Bemis' restructuring and cost savings plan will drive growth. However, the company’s earnings will be affected by the tough economic environment in Brazil. Its adjusted earnings per share guidance in the range of $2.35-$2.50 for 2017 reflects a year-over-year decline of 10% at the midpoint. Further, restructuring expense, declining U.S. packaged food market and lesser capital expenditures will thwart growth. The company has underperformed its industry over the last year. Bemis also has a negative record of earnings surprises in the last few quarters. Its estimates have also gone down lately. “
Other equities research analysts also recently issued reports about the stock. SunTrust Banks, Inc. restated a hold rating and issued a $47.00 target price (down from $49.00) on shares of Bemis in a report on Thursday, September 14th. BidaskClub downgraded shares of Bemis from a hold rating to a sell rating in a report on Saturday, June 24th. Jefferies Group LLC restated a hold rating and issued a $45.00 target price (up from $40.00) on shares of Bemis in a report on Friday, July 14th. Royal Bank Of Canada restated a sell rating on shares of Bemis in a report on Thursday, July 6th. Finally, UBS AG assumed coverage on shares of Bemis in a report on Tuesday, July 25th. They issued a buy rating and a $55.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Bemis presently has an average rating of Hold and a consensus target price of $48.80.
Shares of Bemis (NYSE BMS) opened at 46.59 on Monday. The stock has a 50 day moving average of $46.31 and a 200 day moving average of $45.44. The stock has a market cap of $4.23 billion, a PE ratio of 21.01 and a beta of 0.90. Bemis has a 1-year low of $40.60 and a 1-year high of $51.98.
Bemis (NYSE:BMS) last released its earnings results on Thursday, July 27th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). Bemis had a net margin of 5.18% and a return on equity of 18.53%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Bemis’s revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts forecast that Bemis will post $2.36 EPS for the current year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NEXT Financial Group Inc grew its stake in Bemis by 31.3% during the second quarter. NEXT Financial Group Inc now owns 2,935 shares of the industrial products company’s stock worth $136,000 after buying an additional 700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Bemis by 6.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,576 shares of the industrial products company’s stock worth $165,000 after buying an additional 201 shares during the period. Ffcm LLC grew its stake in Bemis by 6.4% during the second quarter. Ffcm LLC now owns 3,962 shares of the industrial products company’s stock worth $183,000 after buying an additional 238 shares during the period. Acrospire Investment Management LLC purchased a new stake in Bemis during the second quarter worth approximately $194,000. Finally, IHT Wealth Management LLC grew its stake in Bemis by 0.7% during the second quarter. IHT Wealth Management LLC now owns 731 shares of the industrial products company’s stock worth $211,000 after buying an additional 5 shares during the period. Institutional investors own 75.65% of the company’s stock.
Bemis Company Profile
Bemis Company, Inc is a manufacturer of packaging products. The Company operates through two segments: U.S. Packaging and Global Packaging. The U.S. Packaging segment represents all food, consumer, and industrial products packaging-related manufacturing operations located in the United States. The Global Packaging segment includes all packaging-related manufacturing operations located outside of the United States, as well as global medical device and pharmaceutical packaging-related manufacturing operations.
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