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. Investors 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 yield of 4.98%. The ex-dividend date 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 dividend payout ratio of 64.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Amcor to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.51 annual dividend with an expected future payout ratio of 64.6%.

Amcor Stock Performance

Shares of Amcor stock opened at $10.24 on Monday. The company has a market capitalization of $14.79 billion, a PE ratio of 18.61, a P/E/G ratio of 1.99 and a beta of 0.84. The company has a 50-day simple moving average of $9.72 and a two-hundred day simple moving average of $10.42. Amcor has a one year low of $8.80 and a one year high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the business posted $0.09 EPS. Amcor’s revenue was down .3% on a year-over-year basis. Research analysts expect that Amcor will post 0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMCR. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Wednesday, December 11th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and increased their price target for the company from $11.00 to $12.00 in a research note on Monday, January 6th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and upped their price objective for the company from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

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.