Amcor PLC (NYSE:AMCR) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate Amcor a “Moderate Buy”: Six analysts recommend holding, six recommend buying and one issues a strong-buy rating. The average 12-month price target is $49.49.
• Amcor exceeded quarterly expectations, reporting $1.23 in EPS versus a $1.19 estimate and $6.40 billion in revenue versus $6.05 billion expected; revenue increased 25.9% year over year.
• The company declared a quarterly dividend of $0.65, equivalent to $2.60 annually and a 6.2% yield, though its payout ratio is elevated at 110.17%.

Shares of Amcor PLC (NYSE:AMCR - Get Free Report) have earned an average rating of "Moderate Buy" from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $49.49.

Several research analysts have recently issued reports on the stock. Citigroup reaffirmed a "buy" rating and issued a $52.00 target price (up from $47.00) on shares of Amcor in a research note on Friday, August 14th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $47.00 price target (up from $44.00) on shares of Amcor in a research note on Monday, August 17th. Wells Fargo & Company increased their price objective on shares of Amcor from $43.00 to $44.00 and gave the company an "equal weight" rating in a report on Friday, August 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Amcor in a research note on Friday, August 7th. Finally, Bank of America lifted their target price on shares of Amcor from $48.00 to $51.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th.

Amcor Trading Up 0.2%

AMCR stock opened at $41.88 on Friday. The company has a market cap of $19.36 billion, a P/E ratio of 17.75, a PEG ratio of 2.28 and a beta of 0.58. Amcor has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a quick ratio of 0.76, a current ratio of 1.25 and a debt-to-equity ratio of 1.17. The business has a fifty day moving average of $45.01 and a 200-day moving average of $42.06.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.04. The business had revenue of $6.40 billion for the quarter, compared to analysts' expectations of $6.05 billion. Amcor had a return on equity of 15.92% and a net margin of 4.71%.The firm's quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 earnings per share. As a group, equities research analysts expect that Amcor will post 1.84 EPS for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Friday, September 4th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 6.2%. The ex-dividend date was Friday, September 4th. Amcor's dividend payout ratio (DPR) is currently 110.17%.

Hedge Funds Weigh In On Amcor

Several institutional investors and hedge funds have recently made changes to their positions in the company. AdvisorNet Financial Inc bought a new stake in shares of Amcor in the first quarter worth about $25,000. Bangor Savings Bank acquired a new position in Amcor during the 2nd quarter worth approximately $26,000. Western Wealth Management LLC bought a new position in shares of Amcor during the 1st quarter worth approximately $27,000. Palladiem LLC acquired a new stake in shares of Amcor in the first quarter valued at approximately $34,000. Finally, Root Financial Partners LLC bought a new stake in shares of Amcor in the first quarter worth $41,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Company Profile

Amcor plc NYSE: AMCR is a global packaging company that develops and produces packaging for food, beverages, pharmaceutical and medical products, personal care items, household goods and other consumer and industrial applications. Its portfolio includes flexible packaging, rigid containers, films, laminates, bags, bottles, closures, cartons and specialty packaging solutions.

The company works with brand owners and manufacturers to design packaging that supports product protection, shelf life, convenience and presentation.

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