Amcor (NYSE:AMCR) Sets New 1-Year Low – Here’s What Happened

Amcor PLC (NYSE:AMCR)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $36.47 and last traded at $36.8540, with a volume of 139053 shares trading hands. The stock had previously closed at $37.49.

Wall Street Analysts Forecast Growth

AMCR has been the topic of a number of recent research reports. Truist Financial reaffirmed a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Robert W. Baird set a $54.00 target price on shares of Amcor in a research report on Wednesday, February 4th. Morgan Stanley cut shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 target price on the stock. in a report on Wednesday, January 28th. Wells Fargo & Company downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $48.00 to $43.00 in a research report on Friday, March 20th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.56.

Amcor Stock Down 1.5%

The firm’s fifty day moving average is $39.96 and its 200-day moving average is $42.39. The company has a market capitalization of $17.08 billion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 1.11 and a beta of 0.63. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting analysts’ consensus estimates of $0.96. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.Amcor’s revenue was up 77.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. As a group, equities research analysts predict that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The company 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. This represents a $2.60 annualized dividend and a dividend yield of 7.0%. The ex-dividend date is Thursday, May 28th. Amcor’s payout ratio is 181.82%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMCR. AdvisorNet Financial Inc acquired a new position in Amcor in the 1st quarter valued at approximately $25,000. Quent Capital LLC acquired a new position in shares of Amcor during the third quarter worth $27,000. DV Equities LLC bought a new stake in shares of Amcor in the fourth quarter worth $27,000. Brown Lisle Cummings Inc. increased its holdings in Amcor by 137.9% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares during the period. Finally, Larson Financial Group LLC increased its holdings in Amcor by 46.1% in the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after purchasing an additional 1,257 shares during the period. Institutional investors own 45.14% of the company’s stock.

About Amcor

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.