Amcor (NYSE:AMCR) Releases Earnings Results

Amcor (NYSE:AMCRGet Free Report) posted its earnings results on Tuesday. The company reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.96, FiscalAI reports. Amcor had a net margin of 3.04% and a return on equity of 15.57%. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 77.4% on a year-over-year basis.

Amcor Stock Up 0.3%

Shares of AMCR traded up $0.14 on Thursday, reaching $40.35. The company’s stock had a trading volume of 329,113 shares, compared to its average volume of 5,825,472. Amcor has a twelve month low of $36.67 and a twelve month high of $50.94. The stock has a market capitalization of $18.64 billion, a PE ratio of 26.50, a PEG ratio of 1.05 and a beta of 0.63. The firm has a fifty day moving average of $41.34 and a 200-day moving average of $42.50. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 1.26.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Thursday, May 28th. Amcor’s dividend payout ratio is currently 169.93%.

Institutional Investors Weigh In On Amcor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FineMark National Bank & Trust increased its stake in Amcor by 0.6% in the 4th quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock valued at $671,000 after buying an additional 503 shares during the last quarter. L2 Asset Management LLC increased its stake in Amcor by 6.4% in the 4th quarter. L2 Asset Management LLC now owns 11,597 shares of the company’s stock valued at $97,000 after buying an additional 694 shares during the last quarter. Virtue Capital Management LLC increased its stake in Amcor by 2.1% in the 4th quarter. Virtue Capital Management LLC now owns 47,551 shares of the company’s stock valued at $400,000 after buying an additional 976 shares during the last quarter. Quantum Portfolio Management LLC increased its stake in Amcor by 1.5% in the 4th quarter. Quantum Portfolio Management LLC now owns 97,392 shares of the company’s stock valued at $812,000 after buying an additional 1,479 shares during the last quarter. Finally, Lido Advisors LLC increased its stake in Amcor by 3.8% in the 4th quarter. Lido Advisors LLC now owns 41,707 shares of the company’s stock valued at $342,000 after buying an additional 1,522 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

AMCR has been the topic of several analyst reports. Weiss Ratings cut shares of Amcor from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Citigroup reaffirmed a “buy” rating on shares of Amcor in a research report on Thursday, February 12th. Robert W. Baird set a $54.00 price objective on shares of Amcor in a report on Wednesday, February 4th. Wells Fargo & Company lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $48.00 to $43.00 in a report on Friday, March 20th. Finally, Truist Financial dropped their price objective on shares of Amcor from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.89.

View Our Latest Report on AMCR

Key Stories Impacting Amcor

Here are the key news stories impacting Amcor this week:

Amcor Company Profile

(Get Free Report)

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.

See Also

Earnings History for Amcor (NYSE:AMCR)

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