Amcor (NYSE:AMCR) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Amcor (NYSE:AMCR) in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The firm issued an equal weight rating and a $9.80 price objective on the stock.

Separately, JPMorgan Chase & Co. upped their price objective on Amcor from $9.90 to $10.00 and gave the company an overweight rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Amcor currently has a consensus rating of Hold and a consensus price target of $9.93.

Amcor Stock Down 1.8 %

AMCR opened at $9.61 on Friday. The business’s 50-day simple moving average is $9.90 and its 200-day simple moving average is $9.55. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29. Amcor has a one year low of $8.45 and a one year high of $10.51. The stock has a market capitalization of $13.88 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 5.33 and a beta of 0.85.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.49 billion. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 EPS. Analysts anticipate that Amcor will post 0.7 EPS for the current year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend was Tuesday, May 21st. Amcor’s payout ratio is 111.11%.

Institutional Investors Weigh In On Amcor

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Amcor by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after acquiring an additional 1,170,986 shares during the period. Federated Hermes Inc. grew its holdings in shares of Amcor by 1.9% in the 4th quarter. Federated Hermes Inc. now owns 25,391,765 shares of the company’s stock worth $244,777,000 after acquiring an additional 468,883 shares during the period. American Century Companies Inc. grew its holdings in shares of Amcor by 3.4% in the 3rd quarter. American Century Companies Inc. now owns 22,830,158 shares of the company’s stock worth $209,124,000 after acquiring an additional 748,138 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Amcor by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock worth $195,946,000 after acquiring an additional 2,086,698 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in shares of Amcor in the 4th quarter worth approximately $155,438,000. 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.