Amcor (NYSE:AMCR) Rating Increased to Outperform at Macquarie

Macquarie upgraded shares of Amcor (NYSE:AMCR) from a neutral rating to an outperform rating in a report issued on Wednesday, Marketbeat.com reports.

A number of other brokerages have also commented on AMCR. Wells Fargo & Company increased their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Robert W. Baird increased their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. JPMorgan Chase & Co. increased their target price on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Finally, Citigroup increased their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.94.

Amcor Stock Performance

NYSE AMCR opened at $10.50 on Wednesday. Amcor has a 1 year low of $8.78 and a 1 year high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The stock has a market capitalization of $15.17 billion, a PE ratio of 19.80, a P/E/G ratio of 1.89 and a beta of 0.85. The company’s 50 day simple moving average is $10.82 and its two-hundred day simple moving average is $10.51.

Amcor (NYSE:AMCR) last posted its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the company posted $0.16 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Analysts predict that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.1275 per share. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 4.86%. Amcor’s dividend payout ratio (DPR) is 96.23%.

Institutional Investors Weigh In On Amcor

Several large investors have recently modified their holdings of AMCR. B. Riley Wealth Advisors Inc. raised its holdings in shares of Amcor by 2.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 125,029 shares of the company’s stock valued at $1,145,000 after purchasing an additional 3,227 shares in the last quarter. Swedbank AB bought a new position in shares of Amcor during the 1st quarter worth approximately $406,000. Cetera Investment Advisers raised its stake in shares of Amcor by 56.2% during the 1st quarter. Cetera Investment Advisers now owns 412,622 shares of the company’s stock worth $3,924,000 after acquiring an additional 148,482 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of Amcor by 556.9% during the 1st quarter. Cetera Advisors LLC now owns 132,975 shares of the company’s stock worth $1,265,000 after acquiring an additional 112,732 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after acquiring an additional 2,519 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Company Profile

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.