Amcor plc (NASDAQ:AMCR) Expected to Announce Quarterly Sales of $1.03 Billion

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Wall Street analysts expect Amcor plc (NASDAQ:AMCR) to post $1.03 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Amcor’s earnings. The highest sales estimate is $1.04 billion and the lowest is $1.02 billion. Amcor also posted sales of $1.03 billion during the same quarter last year. The company is expected to announce its next quarterly earnings results after the market closes on Tuesday, August 20th.

According to Zacks, analysts expect that Amcor will report full year sales of $4.06 billion for the current financial year, with estimates ranging from $4.05 billion to $4.07 billion. For the next financial year, analysts forecast that the firm will report sales of $0.00. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Amcor.

A number of research analysts recently issued reports on the company. Citigroup assumed coverage on Amcor in a report on Thursday, June 20th. They set a “buy” rating and a $13.00 target price on the stock. Goldman Sachs Group assumed coverage on Amcor in a report on Wednesday, June 12th. They set a “sell” rating on the stock.

Shares of NASDAQ AMCR traded down $0.25 during midday trading on Thursday, reaching $9.70. 3,444,679 shares of the company traded hands, compared to its average volume of 6,705,929. The stock’s 50-day moving average is $10.94. Amcor has a 52 week low of $9.69 and a 52 week high of $11.77.

A number of large investors have recently added to or reduced their stakes in the stock. CENTRAL TRUST Co bought a new stake in shares of Amcor in the second quarter worth about $28,000. QCI Asset Management Inc. NY bought a new stake in Amcor during the 2nd quarter valued at approximately $31,000. Tyers Asset Management LLC bought a new stake in Amcor during the 2nd quarter valued at approximately $31,000. Tower Research Capital LLC TRC bought a new stake in Amcor during the 2nd quarter valued at approximately $33,000. Finally, Riverview Trust Co bought a new stake in Amcor during the 2nd quarter valued at approximately $34,000.

Amcor Company Profile

Amcor plc develops, manufactures, and sells various packaging products for food, beverage, pharmaceutical, medical, home and personal care, and other products worldwide. It provides flexible packaging products, specialty cartons, plastic bottles and jars, and capsules and closures. The company is based in Bristol, the United Kingdom.

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