Amcor plc (AMCR) to Issue Quarterly Dividend of $0.13 on June 11th

Amcor plc (NYSE:AMCR) declared a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Stockholders of record on Wednesday, May 22nd will be paid a dividend of 0.125 per share on Tuesday, June 11th. This represents a $0.50 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Tuesday, May 21st.

Amcor has increased its dividend payment by an average of 2.1% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Amcor has a payout ratio of 68.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Amcor to earn $0.73 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 68.5%.

Amcor Stock Performance

Shares of NYSE:AMCR traded up $0.17 during trading on Thursday, hitting $9.97. The company’s stock had a trading volume of 934,102 shares, compared to its average volume of 8,657,006. The company has a 50-day moving average of $9.20 and a 200-day moving average of $9.28. Amcor has a 12 month low of $8.45 and a 12 month high of $10.53. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.25 and a quick ratio of 0.71. The firm has a market cap of $14.41 billion, a price-to-earnings ratio of 21.77, a P/E/G ratio of 9.83 and a beta of 0.79.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.49 billion. Amcor had a net margin of 4.75% and a return on equity of 24.63%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 EPS. On average, sell-side analysts expect that Amcor will post 0.68 earnings per share for the current year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted their price target on shares of Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.00.

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.