Amcor PLC (NYSE:AMCR) Receives $49.33 Consensus Target Price from Brokerages

Shares of Amcor PLC (NYSE:AMCR) have been given an average rating of “Moderate Buy” by the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $49.3333.

Several analysts recently issued reports on the company. Truist Financial reiterated a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Citigroup cut their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Wells Fargo & Company set a $41.00 target price on Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th.

Amcor Stock Performance

AMCR opened at $38.13 on Friday. The company has a market capitalization of $17.63 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 1.15 and a beta of 0.64. The business’s 50-day moving average price is $39.33 and its two-hundred day moving average price is $42.12. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. Amcor has a 1 year low of $36.25 and a 1 year high of $50.94.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. The business’s revenue was up 77.4% on a year-over-year basis. Equities analysts expect that Amcor will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Thursday, May 28th. Amcor’s dividend payout ratio is presently 181.82%.

Institutional Investors Weigh In On Amcor

Several institutional investors and hedge funds have recently bought and sold shares of AMCR. Capital International Investors acquired a new stake in shares of Amcor during the 4th quarter worth approximately $354,227,000. Norges Bank bought a new stake in Amcor during the 4th quarter worth approximately $308,724,000. M&G PLC grew its stake in shares of Amcor by 26.6% in the third quarter. M&G PLC now owns 108,333,984 shares of the company’s stock worth $866,672,000 after purchasing an additional 22,737,979 shares during the last quarter. AQR Capital Management LLC increased its holdings in Amcor by 398.6% in the second quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock valued at $147,184,000 after purchasing an additional 12,803,785 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in Amcor during the 4th quarter worth $103,713,000. Institutional investors own 45.14% of the company’s stock.

Amcor Company Profile

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.