Ann: Form 8-K - FY22 Results, page-5

AMC - AMCOR PLC

Credit Suisse rates AMC as Neutral (3) - Credit Suisse has described Amcor as becoming increasingly focused on "organic, constant currency revenue growth". Having previously discussed Amcor's growth opportunities in North American small customers and European protein packaging, the broker honed in on the company's North American pet food packaging opportunity in its latest report.
Amcor's North American per food packaging sales are estimated at US$50m, underdeveloped compared to its European operations. Credit Suisse expects growing its North American presence could be a US$150m medium-term sales opportunity for Amcor.
The Neutral rating and target price of $17.85 are retained.
Target price is $17.85 Current Price is $17.26 Difference: $0.59 If AMC meets the Credit Suisse target it will return approximately 3% (excluding dividends, fees and charges). Current consensus price target is $18.58, suggesting upside of 7.6%(ex-dividends)The company's fiscal year ends in June.
Forecast for FY23:
Credit Suisse forecasts a full year FY23 dividend of 65.71 cents and EPS of 114.82 cents . At the last closing share price the estimated dividend yield is 3.81%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.03. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 121.9, implying annual growth of N/A. Current consensus DPS estimate is 72.8, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 14.2.
Forecast for FY24:
Credit Suisse forecasts a full year FY24 dividend of 69.90 cents and EPS of 126.55 cents . At the last closing share price the estimated dividend yield is 4.05%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.64. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 128.0, implying annual growth of 5.0%. Current consensus DPS estimate is 75.4, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 13.5.