Amcor (NYSE:AMCR) PT Raised to $10.00

Amcor (NYSE:AMCR) had its price objective hoisted by JPMorgan Chase & Co. from $9.90 to $10.00 in a research report released on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Amcor Stock Up 1.4 %

NYSE:AMCR opened at $10.01 on Wednesday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.71 and a current ratio of 1.29. The company has a market cap of $14.47 billion, a PE ratio of 22.24, a PEG ratio of 5.39 and a beta of 0.79. Amcor has a 52-week low of $8.45 and a 52-week high of $10.53. The stock has a 50-day simple moving average of $9.23 and a 200 day simple moving average of $9.29.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.49 billion. Amcor had a return on equity of 24.66% and a net margin of 4.75%. Amcor’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. On average, sell-side analysts expect that Amcor will post 0.7 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 22nd will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, May 21st. This represents a $0.50 annualized dividend and a yield of 5.00%. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMCR. CWM LLC boosted its position in Amcor by 19.9% during the third quarter. CWM LLC now owns 9,872 shares of the company’s stock valued at $90,000 after purchasing an additional 1,636 shares during the last quarter. Simplicity Solutions LLC boosted its position in Amcor by 3.2% during the third quarter. Simplicity Solutions LLC now owns 46,419 shares of the company’s stock valued at $425,000 after purchasing an additional 1,450 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Amcor by 7.2% during the third quarter. Commonwealth Equity Services LLC now owns 720,288 shares of the company’s stock valued at $6,598,000 after purchasing an additional 48,499 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Amcor by 5.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 100,361 shares of the company’s stock valued at $919,000 after buying an additional 5,255 shares during the last quarter. Finally, Xponance Inc. lifted its position in shares of Amcor by 2.9% in the third quarter. Xponance Inc. now owns 218,324 shares of the company’s stock valued at $2,000,000 after buying an additional 6,162 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Company Profile

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.