SunTrust Banks, Inc. Reiterates “Hold” Rating for Bemis Company, Inc. (BMS)

SunTrust Banks, Inc. reissued their hold rating on shares of Bemis Company, Inc. (NYSE:BMS) in a research report sent to investors on Thursday. SunTrust Banks, Inc. currently has a $47.00 price target on the industrial products company’s stock, down from their prior price target of $49.00. SunTrust Banks also issued estimates for Bemis’ Q3 2017 earnings at $0.66 EPS, Q4 2017 earnings at $0.66 EPS, FY2017 earnings at $2.37 EPS, Q1 2018 earnings at $0.62 EPS, Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.78 EPS, Q4 2018 earnings at $0.77 EPS and FY2018 earnings at $2.80 EPS.

BMS has been the subject of several other reports. BMO Capital Markets upgraded Bemis from a market perform rating to an outperform rating and upped their price target for the stock from $48.00 to $52.00 in a research note on Thursday, June 22nd. Citigroup Inc. reaffirmed a hold rating on shares of Bemis in a research report on Thursday, August 31st. TheStreet downgraded Bemis from a b rating to a c+ rating in a research report on Thursday, July 27th. Barclays PLC raised Bemis from an equal weight rating to an overweight rating and upped their target price for the stock from $43.00 to $54.00 in a research report on Tuesday, June 27th. Finally, BidaskClub downgraded Bemis from a sell rating to a strong sell rating in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and an average target price of $48.80.

Bemis (NYSE BMS) opened at 46.57 on Thursday. The stock has a market capitalization of $4.23 billion, a PE ratio of 21.01 and a beta of 0.90. Bemis has a one year low of $40.60 and a one year high of $51.98. The company’s 50-day moving average price is $43.18 and its 200-day moving average price is $45.87.

Bemis (NYSE:BMS) last announced its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.08). The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. Bemis had a return on equity of 18.53% and a net margin of 5.18%. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. Equities research analysts predict that Bemis will post $2.37 EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Thursday, August 17th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Tuesday, August 15th. Bemis’s dividend payout ratio is currently 54.30%.

Institutional investors and hedge funds have recently modified their holdings of the stock. NEXT Financial Group Inc boosted its holdings in Bemis by 31.3% in the second quarter. NEXT Financial Group Inc now owns 2,935 shares of the industrial products company’s stock valued at $136,000 after purchasing an additional 700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Bemis by 33.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,375 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 846 shares during the last quarter. Ffcm LLC boosted its holdings in Bemis by 6.4% in the second quarter. Ffcm LLC now owns 3,962 shares of the industrial products company’s stock valued at $183,000 after purchasing an additional 238 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in Bemis in the second quarter valued at about $194,000. Finally, Sullivan Bruyette Speros & Blaney LLC purchased a new position in Bemis in the first quarter valued at about $203,000. 75.65% of the stock is owned by hedge funds and other institutional investors.

About Bemis

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.

Analyst Recommendations for Bemis (NYSE:BMS)

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