Amcor (NYSE:AMCR) Receives New Coverage from Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Amcor (NYSE:AMCR) in a research report released on Friday morning, MarketBeat.com reports. The brokerage issued an equal weight rating and a $9.80 target price on the stock.

Separately, JPMorgan Chase & Co. lifted their target price on Amcor from $9.90 to $10.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Amcor currently has a consensus rating of Hold and an average price target of $9.93.

Amcor Trading Down 0.3 %

AMCR stock opened at $9.78 on Friday. Amcor has a one year low of $8.45 and a one year high of $10.51. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.29 and a quick ratio of 0.75. The stock has a market cap of $14.14 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 5.36 and a beta of 0.85. The company has a fifty day moving average price of $9.90 and a two-hundred day moving average price of $9.55.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter last year, the firm earned $0.18 earnings per share. The company’s revenue was down 7.0% on a year-over-year basis. Equities analysts anticipate that Amcor will post 0.7 EPS for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 22nd were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend was Tuesday, May 21st. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Riverview Trust Co acquired a new position in Amcor during the first quarter worth about $28,000. Cary Street Partners Investment Advisory LLC acquired a new position in Amcor during the third quarter worth about $38,000. McGlone Suttner Wealth Management Inc. acquired a new position in Amcor during the fourth quarter worth about $40,000. EverSource Wealth Advisors LLC raised its stake in Amcor by 132.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after acquiring an additional 2,519 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in Amcor during the third quarter worth about $46,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Company Profile

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.