Amcor PLC (NYSE:AMCR) Given Average Recommendation of “Moderate Buy” by Brokerages

Amcor PLC (NYSE:AMCR) has received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $49.4933.

Several equities research analysts have recently issued reports on AMCR shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $47.00 price objective (up from $44.00) on shares of Amcor in a research note on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of Amcor in a research note on Friday, August 7th. BMO Capital Markets began coverage on shares of Amcor in a report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price target for the company. Bank of America raised their price target on shares of Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, UBS Group began coverage on shares of Amcor in a report on Tuesday, August 11th. They set a “buy” rating and a $56.00 price objective on the stock.

Amcor Price Performance

Shares of NYSE:AMCR opened at $47.84 on Friday. The business has a 50 day moving average price of $44.21 and a 200 day moving average price of $42.67. Amcor has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a market cap of $22.12 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.14 and a beta of 0.62. The company has a quick ratio of 0.42, a current ratio of 1.25 and a debt-to-equity ratio of 1.17.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $1.23 EPS for the quarter, topping 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 company had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.05 billion. During the same period in the previous year, the business posted $0.20 EPS. The company’s revenue for the quarter was up 25.9% on a year-over-year basis.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, September 4th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.60 dividend on an annualized basis and a yield of 5.4%. Amcor’s dividend payout ratio (DPR) is 110.17%.

Hedge Funds Weigh In On Amcor

Large investors have recently added to or reduced their stakes in the company. Capital International Investors bought a new stake in shares of Amcor during the fourth quarter valued at approximately $354,227,000. Norges Bank acquired a new position in shares of Amcor in the fourth quarter valued at $308,724,000. AQR Capital Management LLC lifted its position in Amcor by 398.6% in the second quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after purchasing an additional 12,803,785 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Amcor in the fourth quarter worth $103,713,000. Finally, Invesco Ltd. boosted its stake in Amcor by 29.9% during the third quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after buying an additional 10,846,351 shares in the last quarter. Institutional investors and hedge funds 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.