Amcor plc (AMCR) To Go Ex-Dividend on November 21st

Amcor plc (NYSE:AMCR) declared a quarterly dividend on Thursday, October 31st, RTT News reports. Stockholders of record on Thursday, November 21st will be paid a dividend of 0.1275 per share on Wednesday, December 11th. This represents a $0.51 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13.

Amcor has raised its dividend payment by an average of 2.1% per year over the last three years. Amcor has a dividend payout ratio of 67.6% 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 $0.50 annual dividend with an expected future payout ratio of 63.3%.

Amcor Stock Performance

Shares of AMCR stock opened at $10.26 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17. Amcor has a one year low of $8.71 and a one year high of $11.48. The company’s 50-day simple moving average is $11.13 and its 200-day simple moving average is $10.40. The stock has a market capitalization of $14.83 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.98 and a beta of 0.85.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a net margin of 5.35% and a return on equity of 25.45%. Amcor’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 earnings per share. Equities analysts anticipate that Amcor will post 0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMCR has been the topic of several research reports. JPMorgan Chase & Co. increased their price objective 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. Citigroup increased their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Wells Fargo & Company increased 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. Stifel Nicolaus assumed coverage on shares of Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price target on the stock. Finally, Robert W. Baird raised their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.78.

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.