Amcor plc Announces Quarterly Dividend of $0.13 (NYSE:AMCR)

Amcor plc (NYSE:AMCR) announced a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Investors of record on Wednesday, February 26th will be paid a dividend of 0.1275 per share on Tuesday, March 18th. This represents a $0.51 annualized dividend and a yield of 4.99%. The ex-dividend date is Wednesday, February 26th.

Amcor has raised its dividend payment by an average of 2.1% annually over the last three years. Amcor has a dividend payout ratio of 64.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Amcor to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.51 annual dividend with an expected future payout ratio of 64.6%.

Amcor Stock Performance

Amcor stock traded up $0.16 during trading hours on Wednesday, hitting $10.21. The stock had a trading volume of 34,833,142 shares, compared to its average volume of 19,086,932. The company has a 50-day moving average of $9.77 and a two-hundred day moving average of $10.44. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The company has a market cap of $14.76 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. Amcor has a fifty-two week low of $8.78 and a fifty-two week high of $11.48.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the firm posted $0.09 EPS. Amcor’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts anticipate that Amcor will post 0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research report on Wednesday, December 11th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.46.

About Amcor

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.