Amcor plc (AMCR) to Issue Quarterly Dividend of $0.13 on December 11th

Amcor plc (NYSE:AMCR) announced 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 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from Amcor’s previous quarterly dividend of $0.13.

Amcor has increased its dividend by an average of 2.1% annually over the last three years. Amcor has a dividend payout ratio of 68.9% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 0.6 %

Shares of NYSE AMCR opened at $10.16 on Tuesday. Amcor has a 52-week low of $8.78 and a 52-week high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The business has a fifty day moving average of $10.90 and a two-hundred day moving average of $10.50. The stock has a market cap of $14.68 billion, a PE ratio of 19.16, a PEG ratio of 1.84 and a beta of 0.85.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.16 EPS. As a group, equities research analysts expect that Amcor will post 0.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

AMCR has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Robert W. Baird increased their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Finally, Citigroup increased their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Amcor has an average rating of “Hold” and a consensus target price of $10.94.

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.