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

Amcor plc (NYSE:AMCR) declared a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Stockholders of record on Wednesday, May 22nd will be given a dividend of 0.125 per share on Tuesday, June 11th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend is Tuesday, May 21st.

Amcor has raised its dividend payment by an average of 2.1% annually over the last three years and has raised its dividend every year for the last 4 years. Amcor has a dividend payout ratio of 68.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Amcor to earn $0.73 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 68.5%.

Amcor Stock Up 0.1 %

AMCR stock opened at $9.81 on Thursday. The firm has a market cap of $14.18 billion, a PE ratio of 21.77, a P/E/G ratio of 9.83 and a beta of 0.79. Amcor has a 12 month low of $8.45 and a 12 month high of $10.53. The firm has a 50 day simple moving average of $9.20 and a 200 day simple moving average of $9.28. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.25 and a quick ratio of 0.71.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. Amcor had a return on equity of 24.63% and a net margin of 4.75%. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the prior year, the business earned $0.18 EPS. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities research analysts forecast that Amcor will post 0.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their target price on shares of Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.00.

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.