Brokerages Set Amcor PLC (NYSE:AMCR) PT at $11.37

Amcor PLC (NYSE:AMCR - Get Free Report) has earned an average rating of "Moderate Buy" from the ten ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $11.37.

AMCR has been the subject of several research analyst reports. UBS Group raised Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Truist Financial reduced their price target on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Raymond James Financial started coverage on shares of Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating on the stock. Jefferies Financial Group initiated coverage on Amcor in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 target price on the stock. Finally, Wells Fargo & Company started coverage on shares of Amcor in a report on Thursday, June 26th. They set an "overweight" rating and a $10.00 price target on the stock.

Institutional Trading of Amcor

A number of hedge funds have recently bought and sold shares of AMCR. Rakuten Securities Inc. raised its position in shares of Amcor by 18,725.0% during the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock valued at $29,000 after buying an additional 2,996 shares during the last quarter. HM Payson & Co. acquired a new stake in Amcor during the first quarter worth about $30,000. Brentview Investment Management LLC bought a new position in Amcor during the first quarter valued at about $31,000. CVA Family Office LLC raised its holdings in Amcor by 234.1% in the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after acquiring an additional 2,280 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Amcor in the 1st quarter worth approximately $36,000. 45.14% of the stock is owned by institutional investors.

Amcor Trading Up 0.2%

Shares of Amcor stock traded up $0.02 on Thursday, reaching $9.82. 19,150,741 shares of the company were exchanged, compared to its average volume of 21,081,364. Amcor has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The firm has a market capitalization of $14.20 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 2.37 and a beta of 0.73. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 2.24. The stock has a fifty day moving average price of $9.23 and a 200-day moving average price of $9.52.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $3.33 billion for the quarter, compared to analysts' expectations of $3.51 billion. Amcor had a net margin of 5.99% and a return on equity of 26.49%. The company's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 EPS. On average, analysts expect that Amcor will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd were given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date was Thursday, May 22nd. 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.