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

Amcor plc (NYSE:AMCR) announced a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Shareholders of record on Wednesday, February 26th will be given 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 is Wednesday, February 26th.

Amcor has raised 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. 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 Performance

Shares of AMCR stock traded up $0.16 during trading hours on Wednesday, hitting $10.21. 34,833,142 shares of the company were exchanged, compared to its average volume of 19,086,932. The firm has a fifty day simple moving average of $9.77 and a 200 day simple moving average of $10.44. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. Amcor has a 52-week low of $8.78 and a 52-week high of $11.48. The stock has a market capitalization of $14.76 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 1.86 and a beta of 0.84.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AMCR shares. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research note on Wednesday, December 11th. Wells Fargo & Company upped their target price 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. Finally, Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $12.00 in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company 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.