Bemis Company, Inc. (NYSE:BMS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Bemis is poised to gain from focus on process and efficiency improvement. Further, its focus on innovation will help capitalize on increasing package sophistication in the global business. Moreover, execution of Bemis' restructuring and cost savings plan will drive growth. However, the company’s earnings will be affected by the tough economic environment in Brazil. Its adjusted earnings per share guidance in the range of $2.35-$2.50 for 2017 reflects a year-over-year decline of 10% at the midpoint. Further, restructuring expense, declining U.S. packaged food market and lesser capital expenditures will thwart growth. The company has underperformed its industry over the last year. Bemis also has a negative record of earnings surprises in the last few quarters. Its estimates have also gone down lately. “
Several other brokerages also recently commented on BMS. SunTrust Banks, Inc. restated a “hold” rating and issued a $47.00 price objective (down from $49.00) on shares of Bemis in a research report on Thursday, September 14th. BidaskClub downgraded Bemis from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Bank of America Corporation upgraded Bemis from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $46.00 to $51.00 in a research report on Friday, September 15th. Royal Bank Of Canada restated a “sell” rating on shares of Bemis in a research report on Thursday, July 6th. Finally, KeyCorp restated a “hold” rating on shares of Bemis in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $48.80.
Shares of Bemis (NYSE:BMS) traded down 0.45% during trading on Monday, reaching $46.34. The company’s stock had a trading volume of 185,856 shares. Bemis has a 12-month low of $40.60 and a 12-month high of $51.98. The company has a market cap of $4.21 billion, a PE ratio of 20.90 and a beta of 0.90. The company has a 50 day moving average of $45.88 and a 200 day moving average of $45.46.
Bemis (NYSE:BMS) last announced its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.08). Bemis had a net margin of 5.18% and a return on equity of 18.53%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. Bemis’s revenue was down .9% on a year-over-year basis. On average, analysts anticipate that Bemis will post $2.37 EPS for the current fiscal year.
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Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Bemis by 4,921.3% in the first quarter. BlackRock Inc. now owns 8,605,872 shares of the industrial products company’s stock worth $420,485,000 after purchasing an additional 8,434,484 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Bemis by 5.6% in the first quarter. Vanguard Group Inc. now owns 8,464,812 shares of the industrial products company’s stock worth $413,591,000 after purchasing an additional 445,901 shares during the last quarter. State Street Corp increased its holdings in shares of Bemis by 1.7% in the second quarter. State Street Corp now owns 6,345,626 shares of the industrial products company’s stock worth $293,486,000 after purchasing an additional 104,558 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Bemis by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,180,235 shares of the industrial products company’s stock worth $54,593,000 after purchasing an additional 38,853 shares during the last quarter. Finally, Deprince Race & Zollo Inc. increased its holdings in shares of Bemis by 8.6% in the second quarter. Deprince Race & Zollo Inc. now owns 763,621 shares of the industrial products company’s stock worth $35,317,000 after purchasing an additional 60,787 shares during the last quarter. 75.65% of the stock is currently owned by hedge funds and other institutional investors.
Bemis Company, Inc is a manufacturer of packaging products. The Company operates through two segments: U.S. Packaging and Global Packaging. The U.S. Packaging segment represents all food, consumer, and industrial products packaging-related manufacturing operations located in the United States. The Global Packaging segment includes all packaging-related manufacturing operations located outside of the United States, as well as global medical device and pharmaceutical packaging-related manufacturing operations.
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