Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi always enjoy your daily updates, Amcor slid 9.7% after fourth-quarter EBIT missed expectations on supposedly weaker North American volumes, with full-year earnings also slightly below forecasts. Seems oversold, can you please give me your view on this stock, I have this stock in my watch list and am wondering whether the current price $13.33 is a reasonable entry point?.
Hi Steve,
It’s been the theme of the last two weeks with any company that has any sort of miss – AMC fared far better than some. AMC finished the day down around 13% on Thursday, the largest drop in over 5 years, as the 4th quarter saw soft volumes courtesy of a weak US consumer. FY26 forecast was also disappointing with EPS of 80-83c below the 83c estimates.
This was a miss as opposed to a bad result hence the correction in the stock feels heavy handed, but investors are losing confidence in the US consumer and economy. A couple of downgrades followed but only by 3.7-5%, not 15%! If you believe the US economy will improve as rate cuts flow AMC is worth considering.
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