Amcor plc (NYSE:AMCR) to Issue Dividend Increase – $0.13 Per Share

Amcor plc (NYSE:AMCR) announced a quarterly dividend on Thursday, October 31st,RTT News reports. Shareholders of record on Thursday, November 21st will be given a dividend of 0.1275 per share on Wednesday, December 11th. This represents a $0.51 annualized dividend and a yield of 5.16%. The ex-dividend date is Thursday, November 21st. This is an increase 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% meaning 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 Trading Down 2.6 %

Shares of AMCR opened at $9.89 on Wednesday. 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 firm has a market capitalization of $14.29 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85. The stock’s fifty day simple moving average is $10.88 and its 200-day simple moving average is $10.50. Amcor has a 12-month low of $8.78 and a 12-month high of $11.48.

Amcor (NYSE:AMCR) last issued 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. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the business earned $0.16 earnings per share. The company’s revenue was down 2.6% compared to the same quarter last year. As a group, research analysts predict that Amcor will post 0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMCR. Citigroup upped 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. Robert W. Baird raised their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. lifted their price objective on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Finally, Wells Fargo & Company increased their target price on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.