Bemis (NYSE:BMS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $50.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 14.60% from the company’s current price.
According to Zacks, “Bemis projects earnings per share in fiscal 2018 at $2.75-$2.90 which includes an expected 31 cents benefit related to the U.S. tax reform. The mid-point of the range reflects an 18% year-over-year rise in earnings. The guidance reflects the benefit from the U.S. tax reform and the company’s initiatives to improve cost structure through the Agility plan. The plan includes optimizing manufacturing capacity, consolidating office space, and reducing SG&A cost structure and other costs. Further, its focus on capital expenditures will drive growth. Moreover, the company outperformed the industry over the past three months driven by these activities.”
Other research analysts have also issued research reports about the stock. TheStreet raised shares of Bemis from a “c+” rating to a “b-” rating in a research note on Wednesday, December 13th. Bank of America raised shares of Bemis from an “underperform” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Monday, April 2nd. SunTrust Banks reissued a “hold” rating and issued a $46.00 price objective on shares of Bemis in a research note on Wednesday, January 31st. Citigroup lowered their price objective on shares of Bemis from $49.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Credit Suisse Group raised their price objective on shares of Bemis from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Bemis currently has an average rating of “Hold” and an average price target of $48.08.
Shares of BMS stock opened at $43.63 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.86 and a debt-to-equity ratio of 1.28. The stock has a market cap of $4,062.06, a price-to-earnings ratio of 18.26, a P/E/G ratio of 2.27 and a beta of 0.84. Bemis has a 1-year low of $40.60 and a 1-year high of $50.47.
Bemis (NYSE:BMS) last announced its earnings results on Thursday, February 1st. The industrial products company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $978.34 million. Bemis had a net margin of 2.32% and a return on equity of 17.52%. Bemis’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 earnings per share. equities research analysts anticipate that Bemis will post 2.81 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its stake in Bemis by 4.3% in the third quarter. Wells Fargo & Company MN now owns 157,748 shares of the industrial products company’s stock worth $7,188,000 after acquiring an additional 6,456 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Bemis in the third quarter worth approximately $13,671,000. Element Capital Management LLC purchased a new position in Bemis in the fourth quarter worth approximately $5,935,000. Cubist Systematic Strategies LLC lifted its stake in Bemis by 262.1% in the third quarter. Cubist Systematic Strategies LLC now owns 70,801 shares of the industrial products company’s stock worth $3,226,000 after acquiring an additional 51,247 shares during the last quarter. Finally, AXA lifted its stake in Bemis by 1,038.3% in the fourth quarter. AXA now owns 368,824 shares of the industrial products company’s stock worth $17,626,000 after acquiring an additional 336,424 shares during the last quarter. Institutional investors own 77.47% of the company’s stock.
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Bemis Company Profile
Bemis Company, Inc manufactures and sells packaging products in the United States, Brazil, other Americas, Europe, and the Asia-Pacific. It operates through three segments: U.S. Packaging, Latin America Packaging, and Rest of World Packaging. The company offers multilayer polymer, blown, and cast film structures; and injection molded plastic, thermoformed plastic, and folding carton packaging products.
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