Amcor plc (NYSE:AMCR – Get Free Report) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 21,070,000 shares, a growth of 16.1% from the July 15th total of 18,150,000 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average trading volume of 9,900,000 shares, the days-to-cover ratio is currently 2.1 days.
Wall Street Analysts Forecast Growth
AMCR has been the subject of several recent research reports. Stifel Nicolaus began coverage on shares of Amcor in a report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price objective for the company. JPMorgan Chase & Co. boosted their price target on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Robert W. Baird increased their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Wells Fargo & Company boosted their target price on Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Amcor currently has an average rating of “Hold” and an average target price of $10.68.
Check Out Our Latest Report on AMCR
Institutional Trading of Amcor
Amcor Stock Down 3.7 %
Shares of AMCR stock traded down $0.40 on Friday, reaching $10.45. 25,043,974 shares of the stock were exchanged, compared to its average volume of 9,357,111. The company has a market capitalization of $15.10 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 4.64 and a beta of 0.86. The business’s 50 day moving average price is $10.10 and its 200 day moving average price is $9.68. The company has a current ratio of 1.29, a quick ratio of 0.75 and a debt-to-equity ratio of 1.76. Amcor has a twelve month low of $8.45 and a twelve month high of $10.91.
Amcor (NYSE:AMCR – Get Free Report) last issued its earnings results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the company earned $0.19 EPS. The business’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Amcor will post 0.7 earnings per share for the current fiscal year.
Amcor Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, September 6th will be given a dividend of $0.125 per share. The ex-dividend date is Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.78%. Amcor’s dividend payout ratio (DPR) is presently 111.11%.
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.
Further Reading
- Five stocks we like better than Amcor
- How to Effectively Use the MarketBeat Ratings Screener
- This Small Cap Wealth Management Stock Could Provide Big Returns
- How to invest in marijuana stocks in 7 steps
- Bumble’s Valuation Hits an All-Time Low, Can Its Fortunes Change?
- What is a Secondary Public Offering? What Investors Need to Know
- MarketBeat Week in Review – 8/12 – 8/16
Receive News & Ratings for Amcor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amcor and related companies with MarketBeat.com's FREE daily email newsletter.