Zacks Investment Research downgraded shares of Bemis (NYSE:BMS) from a hold rating to a sell rating in a research note published on Tuesday morning.
According to Zacks, “Bemis provided earnings per share outlook of $2.75-$2.90 for 2018. The company will witness material price inflation of 2-3% globally in 2018. Further, increase in SG&A expenses, rising interest expense on revolving credit facility and restructuring charges will mar results. Challenging economic environment in Brazil also remains a headwind. Moreover, Bemis has underperformed the industry over the past year.”
BMS has been the subject of several other reports. Bank of America raised shares of Bemis from an underperform rating to a buy rating and set a $50.00 price target for the company in a report on Monday, April 2nd. KeyCorp reissued a hold rating on shares of Bemis in a report on Thursday, April 26th. TheStreet downgraded shares of Bemis from a b- rating to a c rating in a report on Tuesday, May 29th. Jefferies Financial Group initiated coverage on shares of Bemis in a report on Friday, May 18th. They issued a hold rating and a $46.00 price target for the company. Finally, ValuEngine downgraded shares of Bemis from a hold rating to a sell rating in a report on Wednesday, May 2nd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Bemis has a consensus rating of Hold and an average target price of $48.67.
Bemis stock opened at $41.92 on Tuesday. The company has a market cap of $3.79 billion, a P/E ratio of 17.54, a P/E/G ratio of 2.14 and a beta of 0.84. Bemis has a one year low of $40.60 and a one year high of $49.84. The company has a current ratio of 1.88, a quick ratio of 0.96 and a debt-to-equity ratio of 1.25.
Bemis (NYSE:BMS) last released its quarterly earnings data on Thursday, April 26th. The industrial products company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. Bemis had a net margin of 2.22% and a return on equity of 17.91%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the firm earned $0.58 EPS. Bemis’s revenue for the quarter was up 3.2% on a year-over-year basis. sell-side analysts expect that Bemis will post 2.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Thursday, May 17th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Wednesday, May 16th. This is a boost from Bemis’s previous quarterly dividend of $0.30. Bemis’s dividend payout ratio (DPR) is presently 51.88%.
A number of large investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd purchased a new position in Bemis in the 1st quarter worth $240,000. Suntrust Banks Inc. raised its position in Bemis by 15.8% in the 1st quarter. Suntrust Banks Inc. now owns 57,643 shares of the industrial products company’s stock worth $2,508,000 after purchasing an additional 7,877 shares during the period. Principal Financial Group Inc. raised its position in Bemis by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 393,747 shares of the industrial products company’s stock worth $17,136,000 after purchasing an additional 10,757 shares during the period. Xact Kapitalforvaltning AB raised its position in Bemis by 38.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 11,460 shares of the industrial products company’s stock worth $499,000 after purchasing an additional 3,200 shares during the period. Finally, Royal Bank of Canada raised its position in Bemis by 14.2% in the 1st quarter. Royal Bank of Canada now owns 302,607 shares of the industrial products company’s stock worth $13,170,000 after purchasing an additional 37,515 shares during the period. Institutional investors own 75.06% of the company’s stock.
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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