Brokerages Set Amcor PLC (NYSE:AMCR) PT at $10.71

Shares of Amcor PLC (NYSE:AMCR) have earned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $10.7125.

AMCR has been the subject of several research analyst reports. Wells Fargo & Company cut their target price on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, October 15th. Royal Bank Of Canada began coverage on shares of Amcor in a report on Monday, September 22nd. They set a “sector perform” rating on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $11.50 price objective on shares of Amcor in a research report on Wednesday, November 12th. Stifel Nicolaus raised Amcor from a “hold” rating to a “buy” rating and set a $10.20 target price on the stock in a research report on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, October 8th.

Amcor Trading Up 0.8%

Amcor stock opened at $8.41 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.62 and a current ratio of 1.04. The business’s 50-day simple moving average is $8.32 and its 200-day simple moving average is $8.64. The firm has a market capitalization of $19.38 billion, a PE ratio of 24.72, a PEG ratio of 0.83 and a beta of 0.68. Amcor has a 52 week low of $7.66 and a 52 week high of $10.45.

Shares of Amcor are going to reverse split before the market opens on Thursday, January 15th. The 1-5 reverse split was announced on Thursday, December 11th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, January 14th.

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

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Friday, November 28th were given a dividend of $0.13 per share. 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 dividend yield of 6.2%. The ex-dividend date was Friday, November 28th. Amcor’s dividend payout ratio (DPR) is presently 152.94%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Amcor by 9.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 18,675 shares of the company’s stock worth $181,000 after buying an additional 1,607 shares in the last quarter. State of Wyoming acquired a new position in shares of Amcor in the 1st quarter worth approximately $185,000. DRW Securities LLC bought a new stake in Amcor during the 1st quarter worth approximately $130,000. Quarry LP increased its holdings in Amcor by 164.5% during the 1st quarter. Quarry LP now owns 9,847 shares of the company’s stock valued at $96,000 after purchasing an additional 6,124 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in Amcor by 121.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 4,019,090 shares of the company’s stock valued at $38,985,000 after purchasing an additional 2,207,746 shares during the last quarter. 45.14% of the stock is owned by institutional investors.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.