Bemis Company, Inc. (NYSE:BMS) Releases Earnings Results, Misses Expectations By $0.08 EPS
Bemis Company, Inc. (NYSE:BMS) released its earnings results on Thursday, July 27th. The industrial products company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.08, Bloomberg Earnings reports. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. Bemis had a net margin of 5.18% and a return on equity of 18.53%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. Bemis updated its FY17 guidance to $2.35-2.50 EPS.
Bemis (NYSE BMS) opened at 42.43 on Monday. The company has a market cap of $3.85 billion, a P/E ratio of 19.14 and a beta of 0.90. Bemis has a 12 month low of $42.13 and a 12 month high of $53.10. The firm has a 50-day moving average price of $45.82 and a 200 day moving average price of $47.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, August 17th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.83%. The ex-dividend date is Tuesday, August 15th. Bemis’s dividend payout ratio (DPR) is presently 54.30%.
BMS has been the topic of several analyst reports. Deutsche Bank AG cut their target price on Bemis from $52.00 to $48.00 and set a “hold” rating on the stock in a research report on Friday, April 28th. Jefferies Group LLC cut their target price on Bemis from $46.00 to $40.00 and set a “hold” rating on the stock in a research report on Tuesday, May 2nd. SunTrust Banks, Inc. downgraded Bemis from a “buy” rating to a “hold” rating and cut their target price for the company from $55.00 to $49.00 in a research report on Friday, April 28th. Zacks Investment Research raised Bemis from a “sell” rating to a “hold” rating in a research report on Monday, April 17th. Finally, Barclays PLC boosted their target price on Bemis from $43.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, May 1st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.44.
A number of large investors have recently bought and sold shares of BMS. BlackRock Inc. increased its stake in Bemis by 4,921.3% in the first quarter. BlackRock Inc. now owns 8,605,872 shares of the industrial products company’s stock worth $420,485,000 after buying an additional 8,434,484 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Bemis by 41.6% in the first quarter. American Century Companies Inc. now owns 6,165,677 shares of the industrial products company’s stock worth $301,255,000 after buying an additional 1,811,549 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new stake in shares of Bemis during the first quarter worth $34,340,000. Marshall Wace North America L.P. boosted its stake in shares of Bemis by 1,361.1% in the second quarter. Marshall Wace North America L.P. now owns 666,999 shares of the industrial products company’s stock worth $30,682,000 after buying an additional 621,350 shares during the last quarter. Finally, BTIM Corp. boosted its stake in shares of Bemis by 672.9% in the first quarter. BTIM Corp. now owns 562,126 shares of the industrial products company’s stock worth $27,466,000 after buying an additional 489,400 shares during the last quarter. Institutional investors own 79.57% of the company’s stock.
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Bemis Company, Inc is a manufacturer of packaging products. The Company operates through two segments: U.S. Packaging and Global Packaging. The U.S. Packaging segment represents all food, consumer, and industrial products packaging-related manufacturing operations located in the United States. The Global Packaging segment includes all packaging-related manufacturing operations located outside of the United States, as well as global medical device and pharmaceutical packaging-related manufacturing operations.
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