Zacks: Brokerages Anticipate Amcor plc (NYSE:AMCR) Will Post Quarterly Sales of $3.80 Billion

Brokerages expect that Amcor plc (NYSE:AMCRGet Rating) will announce $3.80 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Amcor’s earnings. The lowest sales estimate is $3.72 billion and the highest is $3.87 billion. Amcor reported sales of $3.45 billion during the same quarter last year, which would suggest a positive year over year growth rate of 10.1%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Amcor will report full year sales of $14.43 billion for the current year, with estimates ranging from $14.32 billion to $14.62 billion. For the next year, analysts anticipate that the firm will report sales of $14.59 billion, with estimates ranging from $14.10 billion to $15.16 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Amcor.

Amcor (NYSE:AMCRGet Rating) last announced its earnings results on Tuesday, May 3rd. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. Amcor had a net margin of 6.75% and a return on equity of 26.05%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis.

A number of brokerages have commented on AMCR. Truist Financial began coverage on shares of Amcor in a research report on Friday, March 25th. They issued a “hold” rating and a $12.00 price objective on the stock. Bank of America downgraded shares of Amcor from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $13.40 to $12.30 in a research report on Friday, March 25th. Finally, TheStreet raised shares of Amcor from a “c” rating to a “b” rating in a research report on Friday, May 13th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.76.

In related news, VP Julie Marie Sorrells sold 17,283 shares of the stock in a transaction on Friday, May 6th. The shares were sold at an average price of $12.55, for a total transaction of $216,901.65. Following the completion of the sale, the vice president now owns 20,733 shares in the company, valued at approximately $260,199.15. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ian Wilson sold 54,060 shares of the stock in a transaction on Friday, May 6th. The stock was sold at an average price of $12.64, for a total transaction of $683,318.40. Following the sale, the executive vice president now owns 150,138 shares of the company’s stock, valued at approximately $1,897,744.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 917,850 shares of company stock valued at $11,616,999. Company insiders own 0.28% of the company’s stock.

A number of large investors have recently modified their holdings of AMCR. Eagle Bay Advisors LLC acquired a new stake in shares of Amcor in the 3rd quarter worth $31,000. Marshall Wace LLP acquired a new stake in shares of Amcor in the 4th quarter worth $32,000. Baystate Wealth Management LLC acquired a new stake in shares of Amcor in the 4th quarter worth $36,000. Concord Wealth Partners lifted its stake in shares of Amcor by 111.7% in the 4th quarter. Concord Wealth Partners now owns 3,118 shares of the company’s stock worth $37,000 after acquiring an additional 1,645 shares during the period. Finally, AdvisorNet Financial Inc lifted its stake in shares of Amcor by 24,433.3% in the 1st quarter. AdvisorNet Financial Inc now owns 3,680 shares of the company’s stock worth $42,000 after acquiring an additional 3,665 shares during the period. Hedge funds and other institutional investors own 43.56% of the company’s stock.

AMCR traded down $0.03 during trading hours on Wednesday, hitting $12.93. 16,514,098 shares of the company’s stock were exchanged, compared to its average volume of 15,796,574. Amcor has a 12-month low of $10.66 and a 12-month high of $13.37. The firm has a 50 day moving average of $11.92 and a 200 day moving average of $11.84. The firm has a market cap of $19.43 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 1.63 and a beta of 0.78. The company has a current ratio of 1.39, a quick ratio of 0.85 and a debt-to-equity ratio of 1.57.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 14th. Stockholders of record on Wednesday, May 25th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Tuesday, May 24th. Amcor’s payout ratio is 77.42%.

Amcor Company Profile (Get Rating)

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.

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