Amcor plc (NYSE:AMCR) Receives $10.94 Consensus Target Price from Analysts

Shares of Amcor plc (NYSE:AMCR) have been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $10.94.

Several equities research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Robert W. Baird increased their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. increased their price objective on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Finally, Citigroup lifted their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th.

Amcor Stock Up 1.2 %

AMCR stock opened at $10.63 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. Amcor has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The business has a 50-day moving average of $10.80 and a 200-day moving average of $10.51. The stock has a market capitalization of $15.36 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.89 and a beta of 0.85.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS. On average, sell-side analysts anticipate that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be paid a $0.1275 dividend. The ex-dividend date is Thursday, November 21st. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a yield of 4.80%. Amcor’s dividend payout ratio (DPR) is currently 96.23%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Larson Financial Group LLC increased its stake in Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after buying an additional 2,319 shares during the period. Rise Advisors LLC purchased a new stake in shares of Amcor during the 3rd quarter worth approximately $35,000. ORG Wealth Partners LLC purchased a new stake in shares of Amcor during the 3rd quarter worth approximately $35,000. Quent Capital LLC boosted its holdings in shares of Amcor by 51.8% in the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after acquiring an additional 1,241 shares during the period. Finally, True Wealth Design LLC grew its position in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

About Amcor

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.