Personally I don't mind the share buy backs at these prices. From their presentation, Management believes that Amcor is under valued and a good investment. If they reckon their fair value is say $20 (about my estimate for intrinsic value) , then they're reckoning they are getting a +33% return at the current price. And presumably they are hoping to push the share price up to get some multiple expansion too.
"We continue to believe that the Amcor investment case has never been stronger with consistent organic growth and momentum building, substantial capacity to invest to grow and also to maintain an attractive dividend." Earnings call.
In the end we're getting 4% dividend, 1% share buy backs and +10% EPS growth, and potential multiple expansion in FY21-22. Impressive.
Personally I don't mind the share buy backs at these prices....
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Last
$14.40 |
Change
-0.070(0.48%) |
Mkt cap ! $8.605B | |||
| Open | High | Low | Value | Volume |
| $14.46 | $14.46 | $14.38 | $18.83M | 1.308M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 24624 | $14.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.42 | 2581 | 2 |
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| Last trade - 16.10pm 03/07/2024 (20 minute delay) ? |
| AMC (ASX) Chart |