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

Amcor PLC (NYSE:AMCR) has earned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $49.3333.

AMCR has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Truist Financial reiterated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price for the company. Finally, Citigroup cut their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th.

Amcor Stock Down 0.6%

AMCR stock opened at $37.64 on Friday. Amcor has a 12-month low of $36.25 and a 12-month high of $50.94. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.14 and a beta of 0.64. The company has a 50 day moving average of $39.38 and a two-hundred day moving average of $42.15.

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

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.9%. Amcor’s dividend payout ratio (DPR) is currently 181.82%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AMCR. Capital International Investors bought a new position in shares of Amcor during the 4th quarter valued at $354,227,000. Norges Bank bought a new position in shares of Amcor during the 4th quarter valued at $308,724,000. M&G PLC raised its holdings in shares of Amcor by 26.6% during 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 in the last quarter. AQR Capital Management LLC raised its holdings in shares of Amcor by 398.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock valued at $147,184,000 after purchasing an additional 12,803,785 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Amcor during the 4th quarter valued at $103,713,000. 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.