Amcor Plc (NYSE:AMCR) shares traded -1.28% lower at $8.51 on Wall Street last session.
As we calculate the median target price by taking the range between a high of $11.00 and a low of $8.50, we find $9.40. Given the previous closing price of $8.62, this indicates a potential upside of 9.05 percent. AMCR stock price is now -7.97% away from the 50-day moving average and -18.00% away from the 200-day moving average. The market capitalization of the company currently stands at $12.31B.
Brokers who have rated the stock have averaged $9.63 as their price target over the next twelve months.
With the price target reduced from $12.40 to $9, BofA Securities Downgraded its rating from Buy to Underperform for Amcor Plc (NYSE: AMCR).
In other news, NAYAR ARUN, Director sold 30,000 shares of the company’s stock on Aug 23. The stock was sold for $282,026 at an average price of $9.40. Upon completion of the transaction, the Director now directly owns 45,072 shares in the company, valued at $0.38 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 12, Director NAYAR ARUN sold 5,648 shares of the business’s stock. A total of $69,971 was realized by selling the stock at an average price of $12.39. This leaves the insider owning 75,072 shares of the company worth $0.64 million. A total of 0.32% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AMCR stock. A new stake in Amcor Plc shares was purchased by BALYASNY ASSET MANAGEMENT L.P. during the first quarter worth $17,411,000. RENAISSANCE TECHNOLOGIES LLC invested $5,331,000 in shares of AMCR during the first quarter. In the first quarter, TWINBEECH CAPITAL LP acquired a new stake in Amcor Plc valued at approximately $5,199,000. AMF TJANSTEPENSION AB acquired a new stake in AMCR for approximately $3,620,000. CAPRICORN FUND MANAGERS LTD purchased a new stake in AMCR valued at around $3,579,000 in the second quarter. In total, there are 841 active investors with 52.17% ownership of the company’s stock.
Amcor Plc (NYSE: AMCR) opened at $8.61 on Friday. During the past 12 months, Amcor Plc has had a low of $8.60 and a high of $12.78. As of last week, the company has a debt-to-equity ratio of 1.82, a current ratio of 1.19, and a quick ratio of 0.69. According to the stock market information, the enterprise value for the company is $18.83B, which is based on a 12.08 price-to-earnings ratio, a 2.46 price-to-earnings-growth ratio, and a beta of 0.87. The fifty day moving average price for AMCR is $9.22 and a two-hundred day moving average price translates $10.36 for the stock.
The latest earnings results from Amcor Plc (NYSE: AMCR) was released for Jun, 2023. According to the Packaging & Containers Company, earnings per share came in at $0.19, beating analysts’ expectations of $0.18 by 0.01. This compares to $0.08 EPS in the same period last year. The net profit margin was 7.08% and return on equity was 25.85% for AMCR. The company reported revenue of $3.67 billion for the quarter, compared to $3.91 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -6.04 percent. For the current quarter, analysts expect AMCR to generate $3.35B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/27/2023. Investors who held shares on 09/07/2023 were paid a $0.1225 dividend. On an annualized basis, this represents a $0.48 dividend and a 5.69% percent yield. There was an ex-dividend date of 09/06/2023 for this dividend. In terms of dividend payout ratio, AMCR is presently at 68.75%.
