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Amcor plc (AMCR) Investors To Reap Big Returns Again

Amcor plc (NYSE:AMCR) has seen 5.36 million shares traded in the last trading session. The company, currently valued at $17.22B, closed the last trade at $11.44 per share which meant it lost -$0.32 on the day or -2.72% during that session. The AMCR stock price is -18.88% off its 52-week high price of $13.60 and 6.82% above the 52-week low of $10.66. If we look at the company’s 10-day average daily trading volume, we find that it stood at 7.33 million shares traded. The 3-month trading volume is 9.02 million shares.

The consensus among analysts is that Amcor plc (AMCR) is a Hold stock at the moment, with a recommendation rating of 3.10. 2 analysts rate the stock as a Sell, while 1 rate it as Overweight. 13 out of 20 have rated it as a Hold, with 2 advising it as a Buy. 2 have rated the stock as Underweight. The expected earnings per share for the stock is $0.24.

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Amcor plc (NYSE:AMCR) trade information

Sporting -2.72% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 09/20/22 when the AMCR stock price touched $11.44 or saw a rise of 4.35%. Year-to-date, Amcor plc shares have moved -4.75%, while the 5-day performance has seen it change -4.19%. Over the past 30 days, the shares of Amcor plc (NYSE:AMCR) have changed -8.33%. Short interest in the company has seen 45.43 million shares shorted with days to cover at 4.62.

Wall Street analysts have a consensus price target for the stock at $12.64, which means that the shares’ value could jump 9.49% from current levels. The projected low price target is $11.11 while the price target rests at a high of $14.36. In that case, then, we find that the current price level is -25.52% off the targeted high while a plunge would see the stock lose 2.88% from current levels.

Amcor plc (AMCR) estimates and forecasts

Figures show that Amcor plc shares have underperformed across the wider relevant industry. The company’s shares have lost -0.17% over the past 6 months, with this year growth rate of 0.00%, compared to 19.80% for the industry. Revenue growth from the last financial year stood is estimated to be 12.20%.

6 analysts offering their estimates for the company have set an average revenue estimate of $3.77 billion for the current quarter. 5 have an estimated revenue figure of $3.54 billion for the next quarter concluding in Sep 2022. Year-ago sales stood $3.45 billion and $3.29 billion respectively for this quarter and the next, and analysts expect sales will grow by 9.20% for the current quarter and 7.40% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 1.80% over the past 5 years. Earnings growth for 2022 is a modest -12.20% while over the next 5 years, the company’s earnings are expected to increase by 4.17%.

AMCR Dividends

Amcor plc is expected to release its next earnings report between January 31 and February 04 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.48 at a share yield of 4.20%. The company’s dividend yield has gone up over the past 12 months.

Amcor plc (NYSE:AMCR)’s Major holders

Insiders own 0.26% of the company shares, while shares held by institutions stand at 44.24% with a share float percentage of 44.35%. Investors are also buoyed by the number of investors in a company, with Amcor plc having a total of 798 institutions that hold shares in the company. The top two institutional holders are State Street Corporation with over 112.64 million shares worth more than $1.28 billion. As of Mar 30, 2022, State Street Corporation held 7.50% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 100.0 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $1.13 billion and represent 6.65% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard 500 Index Fund and SPDR (R) Ser Tr- SPDR (R) S&P (R) Dividend ETF. As of Mar 30, 2022, the former fund manager holds about 2.20% shares in the company for having 33.12 million shares of worth $375.27 million while later fund manager owns 32.12 million shares of worth $399.2 million as of Jun 29, 2022, which makes it owner of about 2.14% of company’s outstanding stock.

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