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

Amcor plc (NYSE:AMCR) announced a quarterly dividend on Thursday, August 15th, Wall Street Journal reports. Investors of record on Friday, September 6th will be paid a dividend of 0.125 per share on Thursday, September 26th. This represents a $0.50 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Friday, September 6th.

Amcor has increased its dividend payment by an average of 2.1% annually over the last three years. Amcor has a payout ratio of 67.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Amcor to earn $0.77 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 64.9%.

Amcor Stock Down 1.2 %

AMCR opened at $11.30 on Wednesday. The business has a 50 day moving average of $10.38 and a 200-day moving average of $9.85. The stock has a market capitalization of $16.33 billion, a price-to-earnings ratio of 25.11, a P/E/G ratio of 2.82 and a beta of 0.86. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. Amcor has a 1-year low of $8.45 and a 1-year high of $11.45.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the business posted $0.19 EPS. The business’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Amcor will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AMCR shares. Stifel Nicolaus started coverage on Amcor in a report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective on the stock. Wells Fargo & Company lifted their target price on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. raised their price target on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Robert W. Baird upped their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Finally, Citigroup increased their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Amcor currently has an average rating of “Hold” and an average price target of $10.73.

Amcor Company Profile

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.