Amcor (NYSE:AMCR) Posts Earnings Results, Hits Expectations

Amcor (NYSE:AMCR) released its quarterly earnings data on Tuesday. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16, Zacks reports. Amcor had a net margin of 5.68% and a return on equity of 25.60%.

Amcor Stock Performance

NYSE:AMCR opened at $9.55 on Tuesday. The company’s 50-day moving average price is $9.80 and its 200-day moving average price is $10.45. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The company has a market cap of $13.80 billion, a P/E ratio of 18.01, a P/E/G ratio of 1.86 and a beta of 0.84. Amcor has a twelve month low of $8.78 and a twelve month high of $11.48.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMCR shares. Wells Fargo & Company increased their price objective on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a report on Wednesday, December 11th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and increased their price target for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.46.

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.