Amcor plc (NYSE:AMCR) has received a consensus rating of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $12.57.
AMCR has been the subject of a number of recent analyst reports. BMO Capital Markets raised Amcor from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $11.00 to $13.00 in a research report on Thursday, February 4th. Smith Barney Citigroup lowered Amcor from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 5th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reissued a “neutral” rating and issued a $13.00 target price on shares of Amcor in a research report on Tuesday, January 5th. Deutsche Bank Aktiengesellschaft downgraded Amcor from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research note on Wednesday, January 20th. Finally, Zacks Investment Research upgraded Amcor from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Friday, April 2nd.
Several large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Amcor by 9.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,949,341 shares of the company’s stock valued at $258,344,000 after acquiring an additional 1,956,166 shares during the period. Polaris Capital Management LLC grew its stake in shares of Amcor by 3.1% during the 4th quarter. Polaris Capital Management LLC now owns 13,408,944 shares of the company’s stock valued at $157,823,000 after acquiring an additional 400,100 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Amcor by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 12,369,774 shares of the company’s stock valued at $145,591,000 after acquiring an additional 254,912 shares during the period. ProShare Advisors LLC grew its stake in shares of Amcor by 6.3% during the 4th quarter. ProShare Advisors LLC now owns 9,471,367 shares of the company’s stock valued at $111,478,000 after acquiring an additional 561,221 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Amcor by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,767,094 shares of the company’s stock valued at $103,186,000 after acquiring an additional 510,486 shares during the period. Institutional investors own 34.95% of the company’s stock.
Amcor (NYSE:AMCR) last issued its earnings results on Monday, February 1st. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. Amcor had a return on equity of 18.75% and a net margin of 6.00%. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the firm earned $0.16 EPS. Amcor’s revenue was down 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Amcor will post 0.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 16th. Investors of record on Wednesday, February 24th were paid a dividend of $0.1175 per share. The ex-dividend date of this dividend was Tuesday, February 23rd. This is an increase from Amcor’s previous quarterly dividend of $0.12. This represents a $0.47 dividend on an annualized basis and a dividend yield of 4.04%. Amcor’s payout ratio is 73.44%.
Amcor plc develops, manufactures, and sells various packaging products for food, beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries worldwide. It operates through two segments, Flexibles and Rigid Packaging. The company provides flexible packaging products, rigid packaging containers, specialty cartons, and closures.
Recommended Story: What does a bar chart mean for investors?
Receive News & Ratings for Amcor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amcor and related companies with MarketBeat.com's FREE daily email newsletter.