Amcor PLC (NYSE:AMCR) to Issue Quarterly Dividend of $0.65

Amcor PLC (NYSE:AMCR) announced a quarterly dividend on Wednesday, August 12th. Investors of record on Friday, September 4th will be given a dividend of 0.65 per share on Thursday, September 24th. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date is Friday, September 4th.

Amcor has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 5 years. Amcor has a payout ratio of 317.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Amcor to earn $4.24 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 61.3%.

Amcor Price Performance

NYSE AMCR opened at $46.49 on Thursday. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. Amcor has a 12 month low of $36.25 and a 12 month high of $50.94. The stock has a market cap of $21.49 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 1.49 and a beta of 0.62. The company’s 50 day moving average is $43.24 and its two-hundred day moving average is $42.58.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. The firm had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.05 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 earnings per share. As a group, research analysts anticipate that Amcor will post 3.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company set a $43.00 price objective on Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, July 15th. UBS Group started coverage on Amcor in a report on Tuesday. They issued a “buy” rating and a $56.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Truist Financial reaffirmed a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Finally, Bank of America lifted their price objective on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.74.

Amcor Company Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.