Amcor PLC (ASX: AMC) shares have enjoyed a strong comeback since plumbing a multi-year closing low of $51.43 on 20 May.
Buoyed in part by growing hopes for a peace deal in the Middle East, shares in the S&P/ASX 200 Index (ASX: XJO) global packaging giant were trading for $62.41 on Tuesday.
That's up 21.4% from the recent lows, putting the Amcor share price right about where it was a year ago.
Atop from the potential for further capital gains, the ASX 200 stock is also increasingly attractive to passive income investors.
With the company's acquisition of United States-based Berry Global now complete, Amcor – which pays quarterly dividends – has declared two unfranked interim dividends so far in 2026, totalling $1.84 a share.
That's up from 40.4 cents a share paid out in the first half of 2025.
Based on the first two quarterly dividends, Amcor shares trade on an estimated annualised dividend yield of 5.9%.
So, is the ASX 200 industrial giant a good buy today?
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Amcor shares: Buy, hold or sell?
Dolphin Partners Financial Services' Arthur Garipoli recently ran his slide rule over Amcor stock (courtesy of The Bull).
"Third quarter earnings for this global packaging giant in fiscal year 2026 were largely in line with expectations," he said.
According to Garipoli:
A downgrade in underlying earnings per share guidance was better than the market had expected. The share price has been weaker on softer volumes and higher input costs, but the end of the conflict in the Middle East should be a positive for AMC.
While sounding a relatively bullish note on the company's growth prospects, Garipoli issued a hold recommendation on Amcor shares for now.
"In our view, the share price offers potential upside from current levels," he concluded.
What's the latest from the ASX 200 packaging giant?
Amcor reported the third quarter results Garipoli mentioned above on 7 May.
Among the highlights, with Berry now fully onboard, the company achieved a 77% year-on-year increase in net sales to US$5.91 billion. Earnings grew strongly too, with adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of US$892 million increasing by 87%.
On the passive income front, management declared an unfranked 91 cent per share interim dividend.
"Third quarter results were in line with expectations and reflect the resilience of our business as we mark the first anniversary of bringing legacy Amcor and Berry together as One Amcor," Amcor CEO Peter Konieczny said.
Amcor shares closed up 3.9% on the day of the results release.
