Brokerages Set Amcor plc (NYSE:AMCR) Price Target at $10.94

Amcor plc (NYSE:AMCR) has earned an average recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $10.94.

A number of analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Robert W. Baird increased their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Finally, Citigroup increased their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th.

Amcor Price Performance

AMCR opened at $10.63 on Wednesday. Amcor has a 52-week low of $8.78 and a 52-week high of $11.48. The company has a market cap of $15.36 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.89 and a beta of 0.85. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The company has a 50 day moving average of $10.80 and a two-hundred day moving average of $10.51.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the firm earned $0.16 earnings per share. The company’s revenue was down 2.6% on a year-over-year basis. On average, analysts expect that Amcor will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 4.80%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is currently 96.23%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMCR. M&G PLC raised its holdings in shares of Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after buying an additional 2,775,794 shares in the last quarter. M&G Plc increased its holdings in shares of Amcor by 2,741.7% in the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after purchasing an additional 45,504,608 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Amcor by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after acquiring an additional 1,960,308 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Amcor by 2.0% during the third quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock worth $410,144,000 after purchasing an additional 697,320 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Amcor by 7.8% in the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock valued at $194,783,000 after acquiring an additional 1,443,364 shares during the period. 45.14% of the stock is owned by institutional investors.

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.