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Amcor (NYSE:AMCR) Stock Price Down 11.9% After Earnings Miss

Amcor logo with Industrials background

Key Points

  • Amcor PLC's stock price fell 11.9% after reporting earnings per share of $0.20, missing analysts' estimates of $0.21 by $0.01.
  • Despite the earnings miss, Amcor reported a 43.8% increase in revenue compared to the same quarter last year.
  • The average target price for Amcor shares is $11.58, with a consensus rating of "Moderate Buy" from analysts.
  • Want stock alerts on Amcor? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Amcor PLC (NYSE:AMCR - Get Free Report)'s share price dropped 11.9% during trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $8.68 and last traded at $8.76. Approximately 7,627,686 shares were traded during trading, a decline of 73% from the average daily volume of 28,499,488 shares. The stock had previously closed at $9.94.

The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). Amcor had a return on equity of 26.49% and a net margin of 5.99%. During the same quarter in the prior year, the business earned $0.21 EPS. The business's revenue was up 43.8% compared to the same quarter last year.

Wall Street Analyst Weigh In

AMCR has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of Amcor in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Truist Financial set a $11.00 price target on shares of Amcor and gave the stock a "buy" rating in a research report on Friday, July 11th. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Finally, Raymond James Financial assumed coverage on shares of Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Amcor presently has an average rating of "Moderate Buy" and an average target price of $11.58.

Get Our Latest Stock Report on Amcor

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMCR. Raymond James Financial Inc. acquired a new position in Amcor during the fourth quarter worth $23,810,000. Capital Fund Management S.A. bought a new position in shares of Amcor during the fourth quarter valued at about $248,000. Sterling Capital Management LLC lifted its position in shares of Amcor by 55.5% during the fourth quarter. Sterling Capital Management LLC now owns 85,249 shares of the company's stock valued at $802,000 after purchasing an additional 30,412 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of Amcor during the fourth quarter valued at about $4,426,000. Finally, Townsquare Capital LLC lifted its position in shares of Amcor by 25.0% during the fourth quarter. Townsquare Capital LLC now owns 61,377 shares of the company's stock valued at $578,000 after purchasing an additional 12,272 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Price Performance

The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 2.24. The business's 50-day moving average is $9.44 and its two-hundred day moving average is $9.53. The company has a market capitalization of $12.64 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 1.26 and a beta of 0.74.

Amcor Company Profile

(Get Free Report)

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.

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