Amcor PLC (NYSE:AMCR) Stock Has Average Target Price of $49.49

Shares of Amcor PLC (NYSE:AMCR) have been assigned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $49.49.

A number of equities research analysts have commented on AMCR shares. BMO Capital Markets assumed coverage on Amcor in a research report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 target price on the stock. Truist Financial set a $51.00 price target on Amcor in a report on Tuesday, August 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Amcor in a research report on Friday, August 7th. Bank of America boosted their price objective on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $47.00 target price (up from $44.00) on shares of Amcor in a research report on Monday, August 17th.

Hedge Funds Weigh In On Amcor

A number of hedge funds have recently made changes to their positions in the stock. AdvisorNet Financial Inc purchased a new stake in Amcor in the first quarter valued at approximately $25,000. Bangor Savings Bank purchased a new position in shares of Amcor during the second quarter worth $26,000. Western Wealth Management LLC acquired a new stake in shares of Amcor in the first quarter valued at $27,000. Palladiem LLC acquired a new stake in shares of Amcor in the first quarter valued at $34,000. Finally, Root Financial Partners LLC purchased a new stake in shares of Amcor in the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Down 0.1%

NYSE AMCR opened at $41.81 on Friday. The business’s fifty day simple moving average is $44.94 and its 200-day simple moving average is $42.08. The company has a quick ratio of 0.76, a current ratio of 1.25 and a debt-to-equity ratio of 1.17. The firm has a market cap of $19.33 billion, a PE ratio of 17.71, a P/E/G ratio of 2.29 and a beta of 0.58. Amcor has a 52 week low of $36.25 and a 52 week high of $50.94.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, August 13th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. The business had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.05 billion. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The business’s revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 EPS. As a group, equities analysts anticipate that Amcor will post 1.84 earnings per share for the current year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Friday, September 4th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 6.2%. The ex-dividend date was Friday, September 4th. Amcor’s dividend payout ratio is currently 110.17%.

About Amcor

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging for food, beverages, pharmaceutical and medical products, personal care items, household goods and other consumer and industrial applications. Its portfolio includes flexible packaging, rigid containers, films, laminates, bags, bottles, closures, cartons and specialty packaging solutions.

The company works with brand owners and manufacturers to design packaging that supports product protection, shelf life, convenience and presentation.