FY2028 Earnings Forecast for Amcor Issued By Zacks Research

Amcor PLC (NYSE:AMCR) – Zacks Research lowered their FY2028 earnings estimates for Amcor in a note issued to investors on Wednesday, November 19th. Zacks Research analyst Team now forecasts that the company will earn $0.94 per share for the year, down from their prior estimate of $0.95. The consensus estimate for Amcor’s current full-year earnings is $0.74 per share.

AMCR has been the topic of several other reports. Royal Bank Of Canada assumed coverage on Amcor in a report on Monday, September 22nd. They set a “sector perform” rating on the stock. Stifel Nicolaus upgraded Amcor from a “hold” rating to a “buy” rating and set a $10.20 price target on the stock in a research note on Friday, October 10th. JPMorgan Chase & Co. started coverage on shares of Amcor in a research note on Friday, September 19th. They issued an “overweight” rating and a $10.00 price objective for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their price target on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.91.

Amcor Trading Up 0.7%

Shares of Amcor stock traded up $0.06 on Thursday, hitting $8.48. 2,068,426 shares of the company traded hands, compared to its average volume of 27,483,898. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 1.18. The company has a market cap of $19.54 billion, a PE ratio of 23.57, a PEG ratio of 1.14 and a beta of 0.72. The stock’s 50 day moving average price is $8.18 and its 200-day moving average price is $8.82. Amcor has a 52 week low of $7.66 and a 52 week high of $10.70.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. Amcor had a net margin of 3.40% and a return on equity of 19.43%. The firm’s revenue for the quarter was up 71.3% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Friday, November 28th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, November 28th. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a yield of 6.1%. Amcor’s dividend payout ratio is currently 152.94%.

Hedge Funds Weigh In On Amcor

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Amcor by 7.2% during the 3rd quarter. State Street Corp now owns 139,077,241 shares of the company’s stock valued at $1,137,652,000 after purchasing an additional 9,375,255 shares during the last quarter. Vanguard Group Inc. raised its stake in Amcor by 1.1% in the third quarter. Vanguard Group Inc. now owns 111,490,330 shares of the company’s stock valued at $911,991,000 after buying an additional 1,262,294 shares during the last quarter. M&G PLC raised its position in shares of Amcor by 26.6% in the 3rd quarter. M&G PLC now owns 108,333,984 shares of the company’s stock valued at $866,672,000 after purchasing an additional 22,737,979 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Amcor by 62.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 80,770,303 shares of the company’s stock worth $742,279,000 after buying an additional 30,938,660 shares during the period. Finally, Geode Capital Management LLC grew its stake in Amcor by 55.3% during the 2nd quarter. Geode Capital Management LLC now owns 58,845,923 shares of the company’s stock valued at $538,551,000 after purchasing an additional 20,946,520 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Company Profile

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.