Amcor PLC (NYSE:AMCR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Amcor PLC (NYSE:AMCR) have been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $10.8375.

A number of analysts have weighed in on AMCR shares. JPMorgan Chase & Co. began coverage on shares of Amcor in a research note on Friday, September 19th. They set an “overweight” rating and a $10.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Amcor in a report on Wednesday, September 10th. They set a “buy” rating on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Amcor in a report on Wednesday, October 8th. Stifel Nicolaus raised Amcor from a “hold” rating to a “buy” rating and set a $10.20 price objective on the stock in a research report on Friday, October 10th. Finally, Royal Bank Of Canada began coverage on Amcor in a research note on Monday, September 22nd. They set a “sector perform” rating on the stock.

Amcor Stock Up 0.5%

Shares of NYSE:AMCR opened at $8.48 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 1.18. The stock has a fifty day simple moving average of $8.15 and a two-hundred day simple moving average of $8.85. Amcor has a 12-month low of $7.66 and a 12-month high of $10.70. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 1.14 and a beta of 0.72.

Amcor (NYSE:AMCR) last released its earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.77 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The company’s quarterly revenue was up 71.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 earnings per share. On average, research analysts anticipate that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Friday, November 28th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 6.1%. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, November 28th. Amcor’s payout ratio is 152.94%.

Insider Buying and Selling

In other Amcor news, Director Stephen E. Sterrett bought 10,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $8.55 per share, with a total value of $85,500.00. Following the transaction, the director owned 10,000 shares in the company, valued at $85,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Institutional Trading of Amcor

A number of institutional investors have recently made changes to their positions in the stock. NewSquare Capital LLC raised its holdings in shares of Amcor by 377.9% during the second quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock valued at $26,000 after purchasing an additional 2,222 shares during the last quarter. Quent Capital LLC bought a new stake in Amcor in the 3rd quarter worth approximately $27,000. AdvisorNet Financial Inc raised its stake in Amcor by 839.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock valued at $28,000 after buying an additional 2,704 shares during the last quarter. Adirondack Trust Co. purchased a new stake in Amcor during the 2nd quarter valued at $29,000. Finally, Brentview Investment Management LLC bought a new position in shares of Amcor during the 1st quarter valued at $31,000. Hedge funds and other 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.