Equities research analysts forecast that Amcor plc (NYSE:AMCR) will post $3.32 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Amcor's earnings, with estimates ranging from $3.30 billion to $3.34 billion. The business is scheduled to issue its next earnings results on Tuesday, August 17th.
According to Zacks, analysts expect that Amcor will report full year sales of $12.70 billion for the current year, with estimates ranging from $12.56 billion to $12.76 billion. For the next year, analysts forecast that the company will post sales of $12.93 billion, with estimates ranging from $12.79 billion to $13.13 billion. Zacks' sales calculations are a mean average based on a survey of sell-side analysts that cover Amcor.
Amcor (NYSE:AMCR) last posted its earnings results on Monday, May 3rd. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.18 by ($0.01). Amcor had a return on equity of 20.36% and a net margin of 6.88%. The company had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter last year, the firm posted $0.11 earnings per share. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year.
Several research analysts recently commented on AMCR shares. Macquarie upgraded shares of Amcor from a "neutral" rating to an "outperform" rating in a report on Thursday, July 1st. Zacks Investment Research upgraded Amcor from a "hold" rating to a "buy" rating and set a $12.00 price objective on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group assumed coverage on Amcor in a research note on Friday, April 9th. They set a "neutral" rating and a $12.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of "Hold" and an average target price of $12.48.
Shares of Amcor stock opened at $11.37 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.30 and a quick ratio of 0.79. The business has a fifty day moving average price of $11.73. The firm has a market capitalization of $17.76 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.59 and a beta of 0.87. Amcor has a 1-year low of $10.05 and a 1-year high of $12.76.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 15th. Investors of record on Wednesday, May 26th were given a dividend of $0.117 per share. This represents a $0.47 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Tuesday, May 25th. Amcor's dividend payout ratio (DPR) is presently 73.44%.
In other news, EVP Ian Wilson sold 195,200 shares of the stock in a transaction on Friday, May 7th. The shares were sold at an average price of $12.36, for a total value of $2,412,672.00. Following the completion of the transaction, the executive vice president now owns 195,200 shares in the company, valued at approximately $2,412,672. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Arun Nayar sold 50,000 shares of the firm's stock in a transaction dated Monday, May 17th. The stock was sold at an average price of $12.35, for a total transaction of $617,500.00. The disclosure for this sale can be found here. Insiders have sold 709,245 shares of company stock worth $8,668,319 over the last 90 days. Corporate insiders own 0.28% of the company's stock.
Several institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Amcor during the 4th quarter valued at $76,730,000. Canada Pension Plan Investment Board grew its holdings in shares of Amcor by 1,213.6% during the first quarter. Canada Pension Plan Investment Board now owns 2,866,100 shares of the company's stock worth $33,476,000 after purchasing an additional 2,647,917 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Amcor during the first quarter worth $29,124,000. SG Americas Securities LLC increased its stake in shares of Amcor by 708.7% in the first quarter. SG Americas Securities LLC now owns 2,478,038 shares of the company's stock valued at $28,943,000 after buying an additional 2,171,629 shares in the last quarter. Finally, ING Groep NV bought a new position in shares of Amcor in the first quarter valued at about $24,568,000. Institutional investors and hedge funds own 36.46% of the company's stock.
Amcor Company Profile
Amcor plc develops, manufactures, and sells various packaging products for food, beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries worldwide. It operates through two segments, Flexibles and Rigid Packaging. The company provides flexible packaging products, rigid packaging containers, specialty cartons, and closures.
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