The price of Amcor Plc (NYSE:AMCR) shares last traded on Wall Street fell -0.23% to $8.66.
Based on available information, 19 analysts follow Amcor Plc (NYSE:AMCR). The consensus rating among analysts is ‘Hold’. 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 $9.35. Given the previous closing price of $8.68, this indicates a potential upside of 7.72 percent. AMCR stock price is now -5.30% away from the 50-day moving average and -15.84% away from the 200-day moving average. The market capitalization of the company currently stands at $12.53B.
Among analysts, 14 rate the stock a hold while 1 rate it a buy. Brokers who have rated the stock have averaged $9.62 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 $0.39 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 $0.65 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 $17,718,000. RENAISSANCE TECHNOLOGIES LLC invested $5,425,000 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 $5,291,000. CAPRICORN FUND MANAGERS LTD acquired a new stake in AMCR for approximately $3,642,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC purchased a new stake in AMCR valued at around $3,319,000 in the second quarter. In total, there are 841 active investors with 52.11% ownership of the company’s stock.
A candlestick chart of Amcor Plc (NYSE: AMCR) showed a price of $8.73 on Friday morning. During the past 12 months, Amcor Plc has had a low of $8.45 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 $19.05B, which is based on a 12.29 price-to-earnings ratio, a 2.51 price-to-earnings-growth ratio, and a beta of 0.87. The fifty day moving average price for AMCR is $9.13 and a two-hundred day moving average price translates $10.27 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 5.59% 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%.
Amcor Plc(AMCR) 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. The Rigid Packaging segment offers rigid containers for various beverage and food products, including carbonated soft drinks, water, juices, sports drinks, milk-based beverages, spirits and beer, sauces, dressings, spreads, and personal care items; and plastic caps for various applications. The company sells its products through its direct sales force. Amcor plc was incorporated in 2018 and is headquartered in Zurich, Switzerland.
