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

Amcor plc (NYSE:AMCR) declared a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Shareholders 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 of this dividend is Wednesday, February 26th.

Amcor has increased its dividend 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 Stock Up 1.6 %

Shares of NYSE:AMCR opened at $10.21 on Thursday. The company has a fifty day moving average of $9.77 and a 200-day moving average of $10.44. The company has a market capitalization 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. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. Amcor has a 52-week low of $8.78 and a 52-week high of $11.48.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMCR. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday. Wells Fargo & Company boosted their price objective on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.