Amcor plc (NYSE:AMCR) Increases Dividend to $0.13 Per Share

Amcor plc (NYSE:AMCR) declared a quarterly dividend on Thursday, October 31st, RTT News reports. Investors of record on Thursday, November 21st will be paid a dividend of 0.1275 per share on Wednesday, December 11th. This represents a $0.51 dividend on an annualized basis and a yield of 4.58%. This is an increase from Amcor’s previous quarterly dividend of $0.13.

Amcor has increased its dividend by an average of 2.1% per year over the last three years. Amcor has a payout ratio of 67.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Amcor to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 63.3%.

Amcor Stock Performance

Shares of AMCR opened at $11.13 on Friday. The company has a market cap of $16.09 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.98 and a beta of 0.85. The firm has a 50-day moving average of $11.15 and a 200-day moving average of $10.39. Amcor has a one year low of $8.59 and a one year high of $11.48. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The business had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $1.30 billion. Amcor had a net margin of 5.35% and a return on equity of 25.45%. Amcor’s revenue was down 3.8% on a year-over-year basis. During the same period last year, the business posted $0.19 EPS. As a group, equities analysts forecast that Amcor will post 0.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMCR. JPMorgan Chase & Co. increased their price target on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Citigroup increased their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Wells Fargo & Company lifted their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Stifel Nicolaus started coverage on shares of Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price target on the stock. Finally, Robert W. Baird raised their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.78.

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.