Amcor PLC (NYSE:AMCR) Receives $10.91 Average Price Target from Brokerages

Shares of Amcor PLC (NYSE:AMCR) have been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $10.9111.

Several equities analysts have recently weighed in on AMCR shares. Stifel Nicolaus upgraded shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 price objective for the company in a research report on Friday, October 10th. JPMorgan Chase & Co. initiated coverage on shares of Amcor in a research report on Friday, September 19th. They set an “overweight” rating and a $10.00 price target for the company. Royal Bank Of Canada began coverage on shares of Amcor in a report on Monday, September 22nd. They issued a “sector perform” rating on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, October 8th. Finally, Robert W. Baird reduced their target price on Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, August 15th.

Amcor Stock Down 1.9%

Shares of NYSE AMCR opened at $8.10 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.04 and a quick ratio of 0.62. Amcor has a 1 year low of $7.66 and a 1 year high of $10.47. The stock has a market capitalization of $18.66 billion, a P/E ratio of 23.81, a P/E/G ratio of 0.81 and a beta of 0.68. The company has a 50-day moving average price of $8.24 and a 200-day moving average price of $8.74.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Amcor had a net margin of 3.34% and a return on equity of 17.35%. The firm’s quarterly revenue was up 71.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 EPS. On average, equities research analysts forecast that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Friday, November 28th will be paid a $0.13 dividend. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend is Friday, November 28th. Amcor’s payout ratio is currently 152.94%.

Institutional Investors Weigh In On Amcor

Institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its holdings in Amcor by 5.3% in the second quarter. Farther Finance Advisors LLC now owns 20,689 shares of the company’s stock worth $190,000 after buying an additional 1,035 shares during the period. Rothschild Investment LLC raised its position in shares of Amcor by 4.2% in the 2nd quarter. Rothschild Investment LLC now owns 26,179 shares of the company’s stock worth $241,000 after acquiring an additional 1,049 shares in the last quarter. South Dakota Investment Council lifted its stake in shares of Amcor by 6.6% in the 2nd quarter. South Dakota Investment Council now owns 19,302 shares of the company’s stock valued at $177,000 after purchasing an additional 1,202 shares during the period. First County Bank CT boosted its position in shares of Amcor by 5.8% during the third quarter. First County Bank CT now owns 23,142 shares of the company’s stock valued at $189,000 after purchasing an additional 1,275 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Amcor by 3.3% during the third quarter. GAMMA Investing LLC now owns 40,471 shares of the company’s stock valued at $331,000 after purchasing an additional 1,305 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

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.