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

Amcor plc (NYSE:AMCR) declared a quarterly dividend on Thursday, October 31st,RTT News reports. Investors 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 yield of 5.02%. The ex-dividend date is Thursday, November 21st. This is a positive change from Amcor’s previous quarterly dividend of $0.13.

Amcor has raised its dividend by an average of 2.1% annually over the last three years. Amcor has a dividend payout ratio of 68.9% 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 Price Performance

AMCR opened at $10.16 on Tuesday. The company has a fifty day moving average price of $10.90 and a two-hundred day moving average price of $10.50. The firm has a market capitalization of $14.68 billion, a PE ratio of 19.16, a P/E/G ratio of 1.84 and a beta of 0.85. Amcor has a 52 week low of $8.78 and a 52 week high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the firm earned $0.16 earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, analysts anticipate that Amcor will post 0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AMCR shares. Citigroup increased their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Wells Fargo & Company increased their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Robert W. Baird boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Amcor has a consensus rating of “Hold” and a consensus price target of $10.94.

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.