Credit Suisse rates AMC as Neutral (3) - Credit Suisse notes the challenges have extended into the second half and modestly downgrades earnings. The broker notes rising raw material prices and a lag in recovery in emerging markets in the March quarter.
Weak beverage volumes also affected North America's rigid plastics. Some of the issues are considered temporary while others are a function of more entrenched market conditions, in the broker's opinion.
The broker maintains a Neutral rating and $14.20 target.
Target price is $14.20 Current Price is $13.52 Difference: $0.68 If AMC meets the Credit Suisse target it will return approximately 5% (excluding dividends, fees and charges). Current consensus price target is $15.47, suggesting upside of 14.4%(ex-dividends)The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 60.65 cents and EPS of 81.38 cents .At the last closing share price the estimated dividend yield is 4.49%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.61. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 82.4, implying annual growth of N/A.Current consensus DPS estimate is 59.7, implying a prospective dividend yield of 4.4%.Current consensus EPS estimate suggests the PER is 16.4.Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 63.23 cents and EPS of 85.87 cents .At the last closing share price the estimated dividend yield is 4.68%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.74. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 90.6, implying annual growth of 10.0%.Current consensus DPS estimate is 64.0, implying a prospective dividend yield of 4.7%.Current consensus EPS estimate suggests the PER is 14.9.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.Market Sentiment: 0.4All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AMC Price at posting:
$13.52 Sentiment: Hold Disclosure: Not Held
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