Amcor Analysts Increase Their Forecasts After Q4 Results

Amcor plc AMCR reported mixed results for the fourth quarter on Thursday.

The company reported quarterly earnings of 21 cents per share which beat the analyst consensus estimate of 20 cents per share. The company reported quarterly sales of $3.54 billion which missed the analyst consensus estimate of $3.64 billion.

Amcor Interim CEO Peter Konieczny said, "Amcor finished fiscal 2024 strongly, as the underlying business delivered another sequential improvement in volume and earnings growth, with fourth quarter adjusted EPS up 9%, ahead of the expectations we set out in April.  Volumes returned to year on year growth in the quarter as customer demand improved and our teams maintained their outstanding focus on managing costs, driving strong margin expansion.  Annual adjusted free cash flow was at the top end of our guidance range and up 12% on last year."

Amcor said it sees FY25 earnings of 72 cents to 76 cents per share, versus estimates of 74 cents per share.

Amcor shares gained 1.8% to close at $10.85 on Thursday.

These analysts made changes to their price targets on Deere following earnings announcement.

Baird analyst Ghansham Panjabi maintained Amcor with a Neutral and raised the price target from $10 to $11.

Wells Fargo analyst Gabe Hajde maintained Amcor with an Equal-Weight and raised the price target from $9.8 to $10.5.

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