Amcor PLC (AMCR) – What Are Brokerages Thinking About This Stock?

Shares of Amcor PLC (NYSE:AMCR) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $49.36.

Several brokerages have issued reports on AMCR. UBS Group initiated coverage on Amcor in a research note on Tuesday, August 11th. They issued a “buy” rating and a $56.00 target price for the company. Bank of America lifted their price target on shares of Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Wells Fargo & Company boosted their price objective on shares of Amcor from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Weiss Ratings restated a “hold (c)” rating on shares of Amcor in a report on Friday, August 7th. Finally, BMO Capital Markets began coverage on shares of Amcor in a research note on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price objective for the company.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AMCR. Bank of New York Mellon Corp purchased a new position in shares of Amcor in the second quarter worth about $90,556,000. Rubric Capital Management LP bought a new stake in shares of Amcor in the 1st quarter valued at about $50,458,000. Ancora Advisors LLC bought a new stake in shares of Amcor in the 2nd quarter valued at about $39,470,000. Hsbc Holdings PLC lifted its stake in shares of Amcor by 1,620.5% in the 1st quarter. Hsbc Holdings PLC now owns 672,649 shares of the company’s stock valued at $26,592,000 after acquiring an additional 633,554 shares during the last quarter. Finally, National Pension Service boosted its holdings in Amcor by 1.3% during the 2nd quarter. National Pension Service now owns 505,524 shares of the company’s stock valued at $21,914,000 after acquiring an additional 6,297 shares during the period. 45.14% of the stock is owned by institutional investors.

Amcor Trading Down 0.4%

Shares of Amcor stock opened at $46.01 on Wednesday. The business’s 50-day moving average price is $44.06 and its 200-day moving average price is $43.01. Amcor has a 12 month low of $36.25 and a 12 month high of $50.94.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, August 13th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. The firm had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $6.05 billion. The business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 earnings per share. As a group, sell-side analysts anticipate that Amcor will post 1.83 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Friday, September 4th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Friday, September 4th.

Amcor Company Profile

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging solutions for food, beverage, pharmaceutical, medical, personal care, household, and other consumer and industrial products. Its offerings include flexible packaging, rigid containers, closures, bottles, specialty cartons, and related packaging systems designed to protect products, support supply chains, and improve convenience and sustainability.

The company serves customers across North America, Latin America, Europe, Asia-Pacific, and other international markets.