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

Amcor plc (NYSE:AMCR) announced a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Stockholders of record on Wednesday, February 26th will be paid a dividend of 0.1275 per share on Tuesday, March 18th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend is Wednesday, February 26th.

Amcor has raised its dividend by an average of 2.1% per year over the last three years. Amcor has a payout ratio of 64.6% meaning 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 Up 1.6 %

NYSE AMCR traded up $0.16 during trading on Wednesday, reaching $10.21. 43,104,015 shares of the company’s stock were exchanged, compared to its average volume of 19,531,287. The company has a 50 day moving average price of $9.77 and a two-hundred day moving average price of $10.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The stock has a market cap of $14.76 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. Amcor has a 1 year low of $8.78 and a 1 year high of $11.48.

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

Analyst Ratings Changes

AMCR has been the topic of a number of recent analyst reports. UBS Group raised 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 target for the company in a research report on Wednesday, December 11th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Wells Fargo & Company lifted their price target 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, Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.