Amcor plc (NYSE:AMCR) Receives Consensus Rating of “Moderate Buy” from Analysts

Amcor plc (NYSE:AMCR) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $11.20.

A number of brokerages recently commented on AMCR. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a report on Wednesday, December 11th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company lifted their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th.

Institutional Investors Weigh In On Amcor

A number of institutional investors have recently modified their holdings of AMCR. Larson Financial Group LLC lifted its holdings in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after acquiring an additional 2,319 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Amcor in the 3rd quarter worth approximately $35,000. ORG Wealth Partners LLC acquired a new position in Amcor during the 3rd quarter valued at approximately $35,000. True Wealth Design LLC grew its stake in Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after buying an additional 3,225 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Amcor by 38.7% in the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after buying an additional 1,299 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

AMCR opened at $9.40 on Friday. The firm has a market capitalization of $13.59 billion, a P/E ratio of 17.74, a P/E/G ratio of 1.80 and a beta of 0.82. The firm’s 50 day moving average is $10.44 and its 200-day moving average is $10.51. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. Amcor has a 52-week low of $8.78 and a 52-week high of $11.48.

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

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date was Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is currently 96.23%.

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.