Amcor plc (NYSE:AMCR) Receives $11.46 Consensus Target Price from Analysts

Shares of Amcor plc (NYSE:AMCR - Get Free Report) have earned an average rating of "Moderate Buy" from the ten ratings firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $11.46.

A number of equities research analysts recently weighed in on the stock. Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 27th. Bank of America raised shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Truist Financial raised shares of Amcor from a "hold" rating to a "buy" rating and upped their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and upped their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th.

Amcor Trading Up 1.1 %

Shares of AMCR traded up $0.11 on Monday, reaching $10.10. 15,675,937 shares of the company's stock were exchanged, compared to its average volume of 18,855,148. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $14.59 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 1.92 and a beta of 0.84. The business has a 50 day moving average price of $9.71 and a two-hundred day moving average price of $10.43. Amcor has a 12 month low of $8.80 and a 12 month high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. Amcor's revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 earnings per share. Research analysts anticipate that Amcor will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.05%. The ex-dividend date is Wednesday, February 26th. Amcor's payout ratio is 92.73%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Amcor by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock worth $555,064,000 after purchasing an additional 1,249,868 shares during the last quarter. M&G PLC lifted its stake in Amcor by 5.9% in the third quarter. M&G PLC now owns 49,940,152 shares of the company's stock valued at $549,342,000 after acquiring an additional 2,775,794 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Amcor by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock valued at $433,358,000 after acquiring an additional 2,862,471 shares during the last quarter. Geode Capital Management LLC lifted its stake in Amcor by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company's stock valued at $345,952,000 after acquiring an additional 539,756 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Amcor by 16.0% in the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock valued at $286,300,000 after acquiring an additional 4,199,209 shares during the last quarter. Institutional investors and hedge funds 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.