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

Shares of Amcor PLC (NYSE:AMCR) hit a new 52-week low during trading on Tuesday . The company traded as low as $8.16 and last traded at $8.24, with a volume of 20450883 shares trading hands. The stock had previously closed at $8.30.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AMCR shares. Robert W. Baird cut their price target on Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Wells Fargo & Company lifted their price target on Amcor from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. UBS Group raised Amcor from a “neutral” rating to a “buy” rating in a research note on Thursday, June 26th. Truist Financial set a $11.00 price target on Amcor and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, Jefferies Financial Group started coverage on Amcor in a research note on Wednesday, July 2nd. They set a “buy” rating and a $12.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.42.

Amcor Stock Up 0.7%

The stock’s 50-day simple moving average is $9.16 and its 200 day simple moving average is $9.32. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. The firm has a market cap of $11.92 billion, a P/E ratio of 22.90, a PEG ratio of 1.06 and a beta of 0.72.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.Amcor’s quarterly revenue was up 43.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 earnings per share. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, research analysts forecast that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, September 5th will be paid a $0.1275 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.51 annualized dividend and a dividend yield of 6.2%. Amcor’s payout ratio is currently 141.67%.

Insider Buying and Selling at Amcor

In related news, Director Stephen E. Sterrett acquired 10,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the purchase, the director directly owned 10,000 shares of the company’s stock, valued at $85,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amcor

Several hedge funds and other institutional investors have recently modified their holdings of AMCR. Vanguard Group Inc. increased its holdings in shares of Amcor by 61.8% during the second quarter. Vanguard Group Inc. now owns 110,228,036 shares of the company’s stock valued at $1,012,996,000 after acquiring an additional 42,122,135 shares in the last quarter. State Street Corp increased its holdings in shares of Amcor by 41.4% during the second quarter. State Street Corp now owns 129,701,986 shares of the company’s stock valued at $1,191,961,000 after acquiring an additional 37,982,310 shares in the last quarter. Norges Bank bought a new stake in shares of Amcor during the second quarter valued at approximately $328,839,000. Charles Schwab Investment Management Inc. boosted its stake in Amcor by 62.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 80,770,303 shares of the company’s stock valued at $742,279,000 after purchasing an additional 30,938,660 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Amcor by 55.3% during the 2nd quarter. Geode Capital Management LLC now owns 58,845,923 shares of the company’s stock valued at $538,551,000 after purchasing an additional 20,946,520 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

About Amcor

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.