Analysts Set Amcor PLC (NYSE:AMCR) Price Target at $49.33

Shares of Amcor PLC (NYSE:AMCR) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $49.3333.

A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup dropped their target price on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, Wells Fargo & Company set a $41.00 price objective on shares of Amcor and gave the company an “equal weight” rating in a research report on Wednesday, May 20th.

Amcor Stock Performance

NYSE:AMCR opened at $42.95 on Thursday. The firm has a market capitalization of $19.86 billion, a PE ratio of 30.04, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64. The business’s fifty day moving average price is $39.51 and its 200 day moving average price is $41.97. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. Amcor has a 12 month low of $36.25 and a 12 month high of $50.94.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm’s revenue was up 77.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, sell-side analysts anticipate that Amcor will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were issued a $0.65 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 6.1%. Amcor’s dividend payout ratio (DPR) is 181.82%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. AdvisorNet Financial Inc acquired a new stake in shares of Amcor during the first quarter valued at $25,000. Western Wealth Management LLC acquired a new stake in shares of Amcor during the first quarter valued at $27,000. DV Equities LLC acquired a new stake in shares of Amcor during the fourth quarter valued at $27,000. Brown Lisle Cummings Inc. boosted its stake in shares of Amcor by 137.9% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Amcor by 46.1% during the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after acquiring an additional 1,257 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Company Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.