Amcor (NYSE:AMCR) Reaches New 1-Year Low - Here's Why
Amcor PLC (NYSE:AMCR) reached a new 52-week low of $7.81, closing at $7.7550. Analysts have mixed ratings, with JPMorgan setting a price target of $10.00 and Truist at $11.00. The company reported Q2 earnings of $0.20 EPS, missing estimates, with revenue of $5.08 billion. Amcor declared a quarterly dividend of $0.1275, yielding 6.5%. Recent insider buying and significant institutional investments were noted, with State Street and Vanguard increasing their stakes. The stock has a market cap of $17.97 billion and a PE ratio of 21.60.
Amcor PLC (NYSE:AMCR - Get Free Report) hit a new 52-week low on Friday . The stock traded as low as $7.81 and last traded at $7.7550, with a volume of 89014 shares. The stock had previously closed at $7.85.
Wall Street Analyst Weigh In
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AMCR has been the topic of several recent research reports. JPMorgan Chase & Co. initiated coverage on Amcor in a report on Friday, September 19th. They set an "overweight" rating and a $10.00 price target on the stock. Truist Financial set a $11.00 price target on Amcor and gave the stock a "buy" rating in a report on Friday, July 11th. The Goldman Sachs Group began coverage on Amcor in a report on Wednesday, September 10th. They set a "buy" rating on the stock. Royal Bank Of Canada began coverage on Amcor in a research report on Monday, September 22nd. They set a "sector perform" rating for the company. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Amcor in a report on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $10.84.
Get Our Latest Stock Analysis on Amcor
Amcor Stock Down 0.7%
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The business has a 50 day moving average of $8.22 and a 200-day moving average of $8.93. The stock has a market cap of $17.97 billion, a PE ratio of 21.60, a P/E/G ratio of 1.14 and a beta of 0.73. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 1.18.
Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). The firm had revenue of $5.08 billion for the quarter, compared to analysts' expectations of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The company's quarterly revenue was up 43.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Equities research analysts predict that Amcor PLC will post 0.74 EPS for the current fiscal year.
Amcor Announces Dividend
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The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Friday, September 5th were paid a $0.1275 dividend. The ex-dividend date was Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.5%. Amcor's payout ratio is 141.67%.
Insider Buying and Selling at Amcor
In other news, Director Stephen E. Sterrett acquired 10,000 shares of Amcor stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $8.55 per share, with a total value of $85,500.00. Following the completion of the acquisition, the director owned 10,000 shares in the company, valued at $85,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Amcor
Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its holdings in Amcor by 41.4% during the second quarter. State Street Corp now owns 129,701,986 shares of the company's stock worth $1,191,961,000 after purchasing an additional 37,982,310 shares during the last quarter. Vanguard Group Inc. raised its holdings in Amcor by 61.8% during the second quarter. Vanguard Group Inc. now owns 110,228,036 shares of the company's stock worth $1,012,996,000 after purchasing an additional 42,122,135 shares during the last quarter. M&G PLC raised its holdings in Amcor by 23.4% during the second quarter. M&G PLC now owns 85,596,005 shares of the company's stock worth $770,364,000 after purchasing an additional 16,212,783 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Amcor by 62.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 80,770,303 shares of the company's stock worth $742,279,000 after acquiring an additional 30,938,660 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Amcor by 55.3% in the second quarter. Geode Capital Management LLC now owns 58,845,923 shares of the company's stock worth $538,551,000 after acquiring an additional 20,946,520 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.
About Amcor
(Get Free Report)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.
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