Amcor PLC (NYSE:AMCR) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Amcor PLC (NYSE:AMCR - Get Free Report) has received an average rating of "Moderate Buy" from the ten ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $11.37.

A number of equities analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Amcor in a report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price target on the stock. Raymond James Financial assumed coverage on Amcor in a report on Tuesday, April 22nd. They set a "market perform" rating on the stock. UBS Group upgraded Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Wells Fargo & Company assumed coverage on Amcor in a report on Thursday, June 26th. They set an "overweight" rating and a $10.00 price target on the stock. Finally, Truist Financial cut their price target on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd.

Hedge Funds Weigh In On Amcor

Institutional investors have recently modified their holdings of the company. 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 worth $29,000 after purchasing an additional 2,996 shares during the period. HM Payson & Co. acquired a new position in shares of Amcor during the first quarter worth approximately $30,000. Brentview Investment Management LLC acquired a new position in shares of Amcor during the first quarter worth approximately $31,000. CVA Family Office LLC raised its position in shares of Amcor by 234.1% during the first quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock worth $32,000 after purchasing an additional 2,280 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Amcor during the first quarter worth approximately $36,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Performance

Amcor stock opened at $9.81 on Thursday. The business has a 50 day moving average of $9.23 and a 200-day moving average of $9.52. Amcor has a 1 year low of $8.37 and a 1 year high of $11.48. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.70 and a quick ratio of 1.16. The company has a market capitalization of $14.18 billion, a P/E ratio of 17.52, a P/E/G ratio of 2.37 and a beta of 0.73.

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

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders 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 dividend yield of 5.20%. The ex-dividend date of this dividend was Thursday, May 22nd. Amcor's payout ratio is 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.

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