Amcor: A Look at the Numbers and Trends
On May 20, 2023, Amcor (NYSE:AMCR) stock opened at $10.22. The Australian-based packaging company has a market capitalization of $15.04 billion with a price-to-earnings ratio of 15.48. Its 50-day and 200-day moving average prices stand at $10.84 and $11.45 respectively, while its beta is currently at 0.80.
Over the past year, Amcor’s stock price has ranged from $9.79 to $13.60 per share, with a consensus price target of $10.80 according to Bloomberg.com data. While the company has received mixed reviews from equities analysts lately – with one sell rating, two hold ratings, and three buy ratings – it still holds an average rating of “hold”.
Several hedge funds have been increasing their stakes in AMCR recently, including LPL Financial LLC, Welch & Forbes LLC, Natixis Advisors L.P., Deseret Mutual Benefit Administrators, and Arizona State Retirement System.
Amcor released its earnings results on May 2nd this year, reporting an EPS of $0.18 for the quarter which met the consensus estimate of analysts covering the firm. The company enjoyed a net margin of 6.54% alongside a return on equity figure standing at 27.94%. During this recording period last year in (2022), earnings were reported at $0.21 per share.
JPMorgan Chase & Co upgraded shares from “neutral” to “overweight,” although they had lowered their target price from $11.60 to $10.80 during a report issued on May 3rd earlier this year.
Morgan Stanley analysts lowered their stance regarding Amcor’s shares from “equal weight” to “underweight” within their February 8th report.
Jefferies Financial Group had also commented on Amcor, upgrading shares from an “underperform” rating to a “hold” in a report dated May 3rd of this year.
Amcor has a reliable and diverse investor base that continues to support its growth initiatives. As the company navigates the packaging industry, it is poised to take advantage of new opportunities as they arise while mitigating potential risks with strategic moves. By staying on top of key metrics and market trends, investors can track the company’s progress for years to come.
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Zacks Research Reduces FY2023 Earnings Estimate for Amcor but Company Remains Committed to Delivering Shareholder Value
Amcor’s FY2023 Earnings Reduced by Zacks Research
Amcor plc (NYSE:AMCR) is a multinational packaging company that has been in operation since 1860. In recent news, Zacks Research has reduced their FY2023 earnings estimates for the company. According to the research report issued on Tuesday, May 16th, Zacks Research analyst M. Das now forecasts that Amcor will post earnings per share of $0.72 for the year. This is down from their previous forecast of $0.77 and below the consensus estimate of $0.73 per share.
The reduction in earnings estimates has caused some concern among investors, however, it is important to note that this does not necessarily mean that Amcor is in trouble. Rather, it may simply be a reflection of market conditions and other factors outside of the company’s control.
Furthermore, Zacks Research has also issued estimates for Amcor’s Q4 2023 earnings at $0.18 EPS, Q1 2024 earnings at $0.15 EPS, Q2 2024 earnings at $0.17 EPS, Q1 2025 earnings at $0.17 EPS, Q2 2025 earnings at $0.18 EPS and Q3 2025 earnings at $0.19 EPS.
Despite these challenges, Amcor continues to demonstrate its commitment to delivering value to its shareholders through its quarterly dividend payouts. Recently disclosed is a quarterly dividend will be paid on Tuesday, June 20th with investors of record on Wednesday, May 24th being issued a $0.1225 dividend per share.
In conclusion, while the reduction in FY2023 earnings estimates may cause some concern among investors on Amcor’s current standing within the market., overall outlook remains positive with a strong history showcasing that they will continue to deliver value to shareholders through their consistent dividend offerings and ensuring they remain profitable within the market.
