Amcor plc (NYSE:AMCR) Given Average Recommendation of "Moderate Buy" by Brokerages

Amcor plc (NYSE:AMCR - Get Free Report) has received a consensus rating of "Moderate Buy" from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $11.31.

A number of brokerages recently weighed in on AMCR. Raymond James began coverage on shares of Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating for the company. Truist Financial dropped their price objective on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd.

Hedge Funds Weigh In On Amcor

Several hedge funds have recently added to or reduced their stakes in AMCR. Apollon Wealth Management LLC purchased a new position in Amcor during the 4th quarter valued at about $125,000. Empowered Funds LLC increased its holdings in Amcor by 25.9% during the 4th quarter. Empowered Funds LLC now owns 167,952 shares of the company's stock valued at $1,580,000 after acquiring an additional 34,573 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Amcor by 4.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 81,433 shares of the company's stock worth $761,000 after purchasing an additional 3,751 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Amcor during the 4th quarter worth about $2,605,000. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Amcor by 9.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 567,573 shares of the company's stock worth $5,358,000 after purchasing an additional 47,348 shares during the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Price Performance

Shares of NYSE:AMCR traded down $0.16 during midday trading on Friday, hitting $9.09. The company's stock had a trading volume of 21,495,655 shares, compared to its average volume of 19,693,240. The business's 50 day simple moving average is $9.22 and its 200 day simple moving average is $9.61. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The company has a market cap of $13.13 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73. Amcor has a 12-month low of $8.37 and a 12-month high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period last year, the firm posted $0.13 earnings per share. The company's revenue for the quarter was down 2.3% on a year-over-year basis. On average, analysts forecast that Amcor will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were issued a dividend of $0.1275 per share. The ex-dividend date was Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.61%. Amcor's dividend payout ratio (DPR) is currently 91.07%.

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.