Amcor plc (NYSE:AMCR) Receives $10.94 Consensus Price Target from Brokerages

Shares of Amcor plc (NYSE:AMCR) have been assigned an average recommendation of “Hold” from the six analysts that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $10.94.

A number of research analysts have weighed in on AMCR shares. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Citigroup increased their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Wells Fargo & Company lifted their price target on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Robert W. Baird increased their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC increased its position in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after acquiring an additional 2,319 shares in the last quarter. Rise Advisors LLC purchased a new stake in Amcor during the 3rd quarter worth $35,000. ORG Wealth Partners LLC acquired a new stake in Amcor in the 3rd quarter valued at $35,000. Quent Capital LLC raised its position in Amcor by 51.8% in the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after purchasing an additional 1,241 shares during the period. Finally, True Wealth Design LLC lifted its stake in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Down 0.2 %

AMCR opened at $10.55 on Wednesday. The business’s fifty day simple moving average is $10.77 and its 200 day simple moving average is $10.52. Amcor has a 52 week low of $8.78 and a 52 week high of $11.48. The firm has a market cap of $15.24 billion, a P/E ratio of 19.90, a PEG ratio of 1.90 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 earnings per share. As a group, equities research analysts anticipate that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.84%. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is presently 96.23%.

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.