ASX:AMC

Amcor Shares Unlikely to Secure Sustained Re-rating, Jefferies Says

Amcor (ASX:AMC) shares have rebounded as cost concerns have eased, but a sustained re-rating is unlikely due to ongoing structural challenges, Jefferies said in a note on Wednesday.The packaging company is expected to face a structural volume drag of around 1% per year, making it difficult for the company to meet its 2027 market consensus expectations.Jefferies said Amcor's organic volumes have declined for four consecutive quarters, due to customers shifting towards cheaper store brands, lower food assistance spending that could reduce demand in some product categories, and weight loss drugs impacting demand for certain food categories.The investment firm expects Amcor to report fiscal fourth-quarter earnings per share of $1.20, in line with analysts' estimates compiled by Visible Alpha.Jefferies downgraded Amcor's rating to hold from buy and cut its price target to AU$64.17 from AU$70.77.

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Friday.Coles Group (ASX:COL): +3%, AU$23.31Xero (ASX:XRO): +3%, AU$71.17Woodside Energy Group (ASX:WDS): +3%, AU$30.27AMP (ASX:AMP): +3%, AU$1.95Amcor (ASX:AMC): +3%, AU$63.72Generation Development Group (ASX:GDG): +3%, AU$3.57Regis Healthcare (ASX:REG): +3%, AU$6.15GQG Partners (ASX:GQG): +3%, AU$1.41News Corp (ASX:NWS): +2%, AU$46.69Guzman y Gomez (ASX:GYG): +2%, AU$21.74

Amcor Expands China Flexible Packaging Facility

Amcor (ASX:AMC) started expanding its flexible packaging facility in Dongguan, China, adding a 7,000-square-meter manufacturing plant and automated warehouse to increase the campus' total area to more than 38,000 square meters, according to a late Thursday statement by the company.The project aims to boost production capacity, strengthen supply chain reliability, and support customers across the Asia Pacific region, with completion scheduled for July 2027.The expansion includes automated solvent-free laminators, high-speed bag-making machines, and automated bag arranging systems to boost production efficiency while supporting the manufacture of recycle-ready packaging for food, home, and personal care products.The company operates 23 manufacturing facilities and two research and development centers across China.

Amcor Shares Rise After Disclosing Collaboration With UK-Based Startup

Amcor (ASX:AMC) shares rose nearly 1% in morning trade on Tuesday after disclosing its collaboration with UK-based startup Kelpi to explore coating technologies for fiber packaging materials.The packaging company is evaluating Kelpi's proprietary coating technology platform, a bio-based seaweed material designed for barrier performance and compatibility with recycling streams for fiber-based packaging, according to a statement released late Monday.

Amcor De-Risks Fiscal Q4 Despite Middle East Conflict, Jefferies Says

Amcor (ASX:AMC) largely de-risked its fiscal fourth quarter with free cash flow broadly in line despite the Middle East conflict, Jefferies said in a note on Monday.It only has around 5% resin sourcing exposure to the Middle East and seems to have managed inflationary impacts into the fourth quarter via resin pass-through mechanisms. Thus, minimal to no impact on operating earnings is expected from resin volatility, with management confident it can quickly recapture inflationary impacts.It guided down free cash flow to AU$1.5 billion to AU$1.6 billion from around AU$1.8 billion to AU$1.9 billion, noting temporary resin price impacts, while holding more inventory to ensure customer supply.The investment firm has a buy rating on Amcor while lowering its price target to AU$70.77 per share from AU$71.83 per share.

Amcor Shares Rise After Laboratory Gains Accreditation in China

Amcor (ASX:AMC) shares gained 1% in recent Tuesday trade after the company said late Monday it obtained Chinese accreditation for its Asia Pacific Innovation Center laboratory.The accreditation from the China National Accreditation Service for Conformity Assessment indicates that the laboratory fulfills requirements for technical competence and quality management, the company said.The development allows the laboratory to generate test data that is recognized across 116 countries, facilitating regulatory approval and market access for Amcor customers, it said.

Jarden Adjusts Amcor's Price Target to AU$75.90 from AU$75, Keeps at Overweight

Amcor Posts Higher Fiscal Q3 Adjusted Earnings, Net Sales; Lowers Fiscal 2026 Outlook

Amcor (ASX:AMC) reported Thursday fiscal third-quarter adjusted earnings of $0.96 per share, up from $0.90 a year earlier.Analysts polled by FactSet expected earnings of $0.95.Net sales for the three months ended March 31 was $5.91 billion, compared with $3.33 billion a year earlier. Analysts surveyed by FactSet expected $5.71 billion.The company narrowed its fiscal 2026 adjusted earnings guidance to $3.98 to $4.03, from its earlier outlook of $4 to $4.15 per share. Analysts polled by FactSet expect earnings of $3.96.The board declared a quarterly dividend of $0.65 per share, payable June 17 to shareholders on record as of May 28. In the same period last year, the dividend was $0.6375 per share, declared as $0.1275 before adjusting for the reverse stock split, which came into effect in January.In a separate filing, the company said it will change its fiscal year to start on Jan. 1 and end on Dec. 31, from a financial year that starts on July 1 and ends on June 30. Its first full year resulting from the change will be the year ending Dec. 31, 2027.

Amcor Sells Two US-Based Beverage Closure Compression Molding Facilities to Closure Systems

Amcor (ASX:AMC) divested two beverage closure compression molding facilities from its Rigid Packaging Solutions North America business to Closure Systems, according to a Wednesday statement from Closure Systems.One of the facilities is an around 183,000-square-foot site in Erie, Pennsylvania, while the other is an around 119,000-square-foot site Hattiesburg, Mississippi.Financial terms were not disclosed.

Amcor Estimates Cut Again on Higher Resin Costs, Softer Demand, Jefferies Says

Amcor (ASX:AMC) has had its earnings estimates cut by Jefferies for the second time in a month, as higher resin costs and softer consumer demand weigh on margins and cash flow, the firm said in a Thursday note.Jefferies noted resin costs rose around 15% to 25% year on year, with the company's polyethylene and polypropylene input exposure at $5 billion to $6 billion annually, and expects the delayed impact of higher costs to pass through in coming quarters, resulting in a notable margin squeeze in the fourth quarter.The firm expects fiscal 2026 earnings of about $3.94, below both company guidance of $4 to $4.15 and consensus at $4, and has cut fiscal 2027 estimates by around 4% on a more cautious view of demand and margins.The firm highlighted working capital pressure, with an estimated $200 million drag from higher resin costs pushing fiscal 2026 leverage to around 3.5 times, and noted that a further 10% rise in resin prices could add around 0.4 times to leverage if fully passed through working capital.The firm expects third quarter earnings before interest, taxes, depreciation and amortization of $936 million, in line with consensus, and earnings of $0.927, slightly below estimates due to higher interest costs, alongside low-single-digit volume declines and continued softness in food and household.Jefferies kept a buy rating on Amcor and cut its price target to AU$71.83 from AU$75.27.