Zacks Investment Research downgraded shares of Bemis (NYSE:BMS) from a hold rating to a sell rating in a report published on Monday.
According to Zacks, “Bemis’ guidance for fiscal 2018 of $2.75-$2.85 includes an estimated 5 cents per share impact from unfavorable currency translation. Bemis’ customers have decided to change their format from boxes to flexible pouches, which will also likely impact earnings. Bemis will experience material price inflation of 2-3% globally as well as the impact of exceeding annual pay for performance targets in 2018. In Latin America the company will bear the brunt of a raw material headwind in 2018 due to the current economic environment, which has made passing the increased input costs to customers more challenging. The political instability and challenging economic environment in Brazil will also impact volumes in the region. Also, higher SG&A (selling, general and administrative) expenses remains a concern. “
BMS has been the topic of several other reports. ValuEngine upgraded Bemis from a sell rating to a hold rating in a research note on Thursday, July 26th. Barclays increased their price objective on Bemis from $52.00 to $55.00 and gave the company an overweight rating in a research note on Monday, July 30th. Robert W. Baird reiterated a hold rating and issued a $57.00 price objective (up from $48.00) on shares of Bemis in a research note on Monday, August 6th. Jefferies Financial Group reiterated a hold rating and issued a $54.00 price objective on shares of Bemis in a research note on Tuesday, August 7th. Finally, UBS Group cut Bemis from a buy rating to a neutral rating and set a $54.00 price objective on the stock. in a research note on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $50.30.
NYSE:BMS opened at $46.06 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.94 and a current ratio of 1.86. Bemis has a 52 week low of $40.86 and a 52 week high of $53.00. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 2.48 and a beta of 0.92.
Bemis (NYSE:BMS) last released its quarterly earnings results on Thursday, July 26th. The industrial products company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. Bemis had a return on equity of 19.70% and a net margin of 2.66%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts anticipate that Bemis will post 2.8 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its holdings in Bemis by 20.2% in the first quarter. Wells Fargo & Company MN now owns 146,381 shares of the industrial products company’s stock valued at $6,370,000 after buying an additional 24,596 shares during the last quarter. Northern Trust Corp increased its holdings in Bemis by 0.5% in the first quarter. Northern Trust Corp now owns 874,262 shares of the industrial products company’s stock valued at $38,048,000 after buying an additional 4,267 shares during the last quarter. Federated Investors Inc. PA increased its holdings in Bemis by 28.7% in the first quarter. Federated Investors Inc. PA now owns 38,386 shares of the industrial products company’s stock valued at $1,671,000 after buying an additional 8,571 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Bemis by 84.3% during the first quarter. JPMorgan Chase & Co. now owns 340,726 shares of the industrial products company’s stock worth $14,828,000 after purchasing an additional 155,851 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Bemis by 3.2% during the first quarter. California Public Employees Retirement System now owns 293,660 shares of the industrial products company’s stock worth $12,780,000 after purchasing an additional 9,031 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.
Bemis Company, Inc manufactures and sells packaging products in the United States, Brazil, other Americas, Europe, and the Asia-Pacific. It operates through three segments: U.S. Packaging, Latin America Packaging, and Rest of World Packaging. The company offers multilayer polymer, blown, and cast film structures; and injection molded plastic, thermoformed plastic, and folding carton packaging products.
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