Amcor plc (NYSE:AMCR) Short Interest Update
Amcor plc (NYSE:AMCR – Get Free Report) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 28,000,000 shares, an increase of 6.2% from the October 31st total of 26,370,000 shares. Based on an average daily volume of 7,490,000 shares, the short-interest ratio is presently 3.7 days. Currently, 1.9% of the shares of the stock are sold short.
Analyst Upgrades and Downgrades
Several brokerages have commented on AMCR. Truist Financial dropped their price objective on Amcor from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, November 3rd. TheStreet cut shares of Amcor from a “b-” rating to a “c+” rating in a research note on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.40.
View Our Latest Analysis on Amcor
Hedge Funds Weigh In On Amcor
Hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC grew its stake in shares of Amcor by 1,619.5% in the 3rd quarter. Signaturefd LLC now owns 3,267 shares of the company’s stock valued at $30,000 after buying an additional 3,077 shares during the period. Money Concepts Capital Corp purchased a new position in Amcor in the fourth quarter worth approximately $31,000. Clear Street Markets LLC grew its position in Amcor by 93.6% in the first quarter. Clear Street Markets LLC now owns 2,913 shares of the company’s stock worth $33,000 after acquiring an additional 1,408 shares during the period. Quent Capital LLC increased its stake in Amcor by 99.6% during the third quarter. Quent Capital LLC now owns 3,814 shares of the company’s stock worth $35,000 after acquiring an additional 1,903 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in Amcor in the third quarter valued at $38,000. 49.52% of the stock is owned by hedge funds and other institutional investors.
Amcor Price Performance
NYSE:AMCR traded up $0.08 during trading hours on Friday, hitting $9.56. 6,790,961 shares of the stock were exchanged, compared to its average volume of 7,227,941. The firm’s fifty day moving average price is $9.02 and its 200 day moving average price is $9.53. Amcor has a 52-week low of $8.45 and a 52-week high of $12.78. The company has a market cap of $13.82 billion, a P/E ratio of 14.49, a P/E/G ratio of 10.48 and a beta of 0.80. The company has a current ratio of 1.27, a quick ratio of 0.74 and a debt-to-equity ratio of 1.76.
Amcor (NYSE:AMCR – Get Free Report) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Amcor had a return on equity of 24.92% and a net margin of 6.72%. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.35 billion. As a group, equities research analysts anticipate that Amcor will post 0.69 EPS for the current fiscal year.
Amcor Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 22nd will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.23%. This is a boost from Amcor’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, November 21st. Amcor’s dividend payout ratio is 75.76%.
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Amcor, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Amcor wasn’t on the list.
While Amcor currently has a “Reduce” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat’s analysts have just released their top five short plays for December 2023. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Original: MarketBeat News Feed: Amcor plc (NYSE:AMCR) Short Interest Update