Amcor Hikes Dividend 2% as Q4 EPS Beats, UBS Starts at Buy
AMCR sits 30% above its 52-week low of $36.25.
Summary
Amcor's Q4 adjusted EPS of $1.23 beat the $1.20 consensus, with revenue of $6.4B also above estimates. The company raised its quarterly dividend 2% to 65 cents, signaling confidence in cash flow despite elevated leverage from the Berry acquisition. UBS initiated coverage with a Buy rating and $56 target, citing a projected 9% EPS CAGR. Synergy realization is running 10% ahead of the year-one $260M target. Shares were down 2% in early trading despite the beat, likely reflecting profit-taking after an 18% three-month rally.
At the time of this announcement, AMCR was trading at $47.13 on NYSE in the Manufacturing sector, with a market capitalization of approximately $21.8B. The 52-week trading range was $36.25 to $50.94. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.