Amcor PLC (NYSE:AMCR) Stock Has Consensus Target Price of $49.49

Shares of Amcor PLC (NYSE:AMCR) have been given a consensus rating of “Moderate Buy” by the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $49.36.

A number of brokerages recently issued reports on AMCR. Wells Fargo & Company boosted their price objective on Amcor from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Citigroup restated a “buy” rating and set a $52.00 target price (up from $47.00) on shares of Amcor in a research note on Friday, August 14th. UBS Group assumed coverage on shares of Amcor in a report on Tuesday, August 11th. They set a “buy” rating and a $56.00 price target on the stock. BMO Capital Markets began coverage on shares of Amcor in a research report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price target for the company. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $47.00 price objective (up from $44.00) on shares of Amcor in a research note on Monday, August 17th.

Institutional Investors Weigh In On Amcor

A number of institutional investors have recently bought and sold shares of the business. Brown Financial Advisors boosted its stake in Amcor by 3.9% during the second quarter. Brown Financial Advisors now owns 6,287 shares of the company’s stock valued at $273,000 after buying an additional 237 shares during the last quarter. FNY Investment Advisers LLC increased its stake in Amcor by 16.1% in the 2nd quarter. FNY Investment Advisers LLC now owns 3,600 shares of the company’s stock worth $156,000 after acquiring an additional 500 shares during the last quarter. Van Hulzen Asset Management LLC raised its holdings in shares of Amcor by 6.7% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 8,005 shares of the company’s stock worth $347,000 after acquiring an additional 500 shares in the last quarter. Bangor Savings Bank purchased a new stake in shares of Amcor during the 2nd quarter worth approximately $26,000. Finally, Fiduciary Financial Group LLC raised its holdings in shares of Amcor by 8.4% during the 2nd quarter. Fiduciary Financial Group LLC now owns 7,863 shares of the company’s stock worth $341,000 after acquiring an additional 612 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

NYSE AMCR opened at $41.73 on Friday. The company has a market capitalization of $19.29 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 2.60 and a beta of 0.58. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.76 and a current ratio of 1.25. The business’s fifty day moving average is $44.62 and its 200 day moving average is $42.14. Amcor has a fifty-two week low of $36.25 and a fifty-two week high of $50.94.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Thursday, August 13th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.04. Amcor had a return on equity of 15.92% and a net margin of 4.71%. The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the previous year, the company posted $0.20 earnings per share. Amcor’s revenue for the quarter was up 25.9% on a year-over-year basis. Sell-side analysts predict that Amcor will post 1.84 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Friday, September 4th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.60 annualized dividend and a yield of 6.2%. Amcor’s dividend payout ratio is currently 110.17%.

About Amcor

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging for food, beverages, pharmaceutical and medical products, personal care items, household goods and other consumer and industrial applications. Its portfolio includes flexible packaging, rigid containers, films, laminates, bags, bottles, closures, cartons and specialty packaging solutions.

The company works with brand owners and manufacturers to design packaging that supports product protection, shelf life, convenience and presentation.