Embecta Corp. (NASDAQ:EMBC) to Issue $0.15 Quarterly Dividend

Embecta Corp. (NASDAQ:EMBC) announced a quarterly dividend on Friday, August 9th, Zacks reports. Shareholders of record on Tuesday, August 27th will be given a dividend of 0.15 per share on Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Tuesday, August 27th.

Embecta has a payout ratio of 26.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Embecta to earn $2.23 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 26.9%.

Embecta Trading Up 6.1 %

Shares of EMBC opened at $14.00 on Monday. Embecta has a twelve month low of $9.93 and a twelve month high of $19.79. The firm has a market capitalization of $807.38 million, a P/E ratio of 11.57 and a beta of 0.99. The firm’s 50-day moving average is $13.63 and its two-hundred day moving average is $13.14.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.28. Embecta had a negative return on equity of 18.42% and a net margin of 6.20%. The business had revenue of $272.50 million during the quarter, compared to analysts’ expectations of $267.44 million. During the same quarter last year, the business posted $0.69 earnings per share. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. Analysts predict that Embecta will post 2.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reduced their price target on shares of Embecta from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Monday, July 15th.

Embecta Company Profile

Embecta Corp., a medical device company, focuses on the provision of various solutions to enhance the health and wellbeing of people living with diabetes. Its products include pen needles, syringes, and safety injection devices, as well as digital applications to assist people with managing patient's diabetes.