Amcor plc (NYSE:AMCR) to Issue $0.13 Quarterly Dividend

Amcor plc (NYSE:AMCR) announced a quarterly dividend on Tuesday, February 4th,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 dividend yield of 4.99%. The ex-dividend date of this dividend is Wednesday, February 26th.

Amcor has increased its dividend payment by an average of 2.1% annually over the last three years. Amcor has a dividend payout ratio of 64.6% indicating that 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 Price Performance

Shares of NYSE:AMCR traded up $0.16 during trading on Wednesday, reaching $10.21. 43,104,015 shares of the company traded hands, compared to its average volume of 19,531,287. The firm has a market capitalization of $14.76 billion, a PE ratio of 19.27, a PEG ratio of 1.86 and a beta of 0.84. Amcor has a 52 week low of $8.78 and a 52 week high of $11.48. 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’s 50 day moving average is $9.77 and its two-hundred day moving average is $10.44.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the prior year, the business posted $0.09 earnings per share. Amcor’s revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts predict that Amcor will post 0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMCR has been the subject of several research analyst reports. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Company Profile

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.