Amcor plc (NYSE:AMCR) Receives $11.46 Average Price Target from Brokerages

Amcor plc (NYSE:AMCR) has been assigned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $11.46.

A number of research firms recently commented on AMCR. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research note on Wednesday, December 11th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Truist Financial raised Amcor from a “hold” rating to a “buy” rating and increased their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th.

Amcor Trading Down 0.5 %

Amcor stock opened at $9.98 on Monday. The stock has a market cap of $14.42 billion, a P/E ratio of 18.15, a PEG ratio of 1.92 and a beta of 0.84. Amcor has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The firm’s fifty day moving average price is $9.72 and its 200-day moving average price is $10.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.26.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Equities research analysts forecast that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.11%. Amcor’s dividend payout ratio (DPR) is currently 92.73%.

Institutional Trading of Amcor

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Amcor by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock worth $555,064,000 after purchasing an additional 1,249,868 shares during the period. M&G PLC boosted its holdings in shares of Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after purchasing an additional 2,775,794 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amcor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after purchasing an additional 2,862,471 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Amcor by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company’s stock worth $345,952,000 after purchasing an additional 539,756 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Amcor by 25.1% during the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock worth $263,215,000 after purchasing an additional 5,614,233 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

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.