In a report released today, Adam Josephson from KeyBanc maintained a Hold rating on Bemis Company (BMS). The company’s shares opened today at $50.02.
Josephson observed:
“We are increasing our 2019 adj. EPS estimate from $2.78 to $2.90 (consensus is $3.02) on better cost savings, and introducing a 2020 estimate of the same; BMS did not provide 2019 guidance given its pending acquisition by Amcor. We expect BMS to continue to struggle to generate EBITDA growth in 2019; in 2018, the Company generated just $24M of EBITDA growth despite $35M of Agility-related cost savings, and we expect the Company’s 2019 EBITDA growth to be appreciably lower than the remaining $26M of savings to be realized (we expect $7M of EBITDA growth).”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 8.3% and a 66.2% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.
Currently, the analyst consensus on Bemis Company is a Moderate Buy with an average price target of $51, a 2.0% upside from current levels. In a report issued on February 4, UBS also maintained a Hold rating on the stock with a $52 price target.
See today’s analyst top recommended stocks >>
Based on Bemis Company’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $63.8 million. In comparison, last year the company had a GAAP net loss of $40.7 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Bemis Co., Inc. engages in the manufacture and sale of packaging for food, consumer products, healthcare, and pharmaceutical companies. It operates through the U.S. Packaging and Global Packaging segment. The U.S. Packaging segment represents all food, consumer, and industrial products packaging-related manufacturing operations located in the United States.
