Embecta Corp. (NASDAQ:EMBC) Declares Quarterly Dividend of $0.15

Key Points

• Embecta Corp. declared a quarterly dividend of $0.15 per share, with a yield of 5.0%, to be paid on September 15th to shareholders of record on August 29th.
• The company reported earnings of $1.12 per share for the most recent quarter, exceeding analysts' expectations by $0.35, and experienced an 8.4% increase in revenue compared to the previous year.
• Embecta's stock rose by 16.1% to reach $12.03, reflecting a market capitalization of $702.78 million and a price-to-earnings ratio of 13.42.

Embecta Corp. (NASDAQ:EMBC - Get Free Report) declared a quarterly dividend on Friday, August 8th, RTT News reports. Stockholders of record on Friday, August 29th will be given a dividend of 0.15 per share on Monday, September 15th. This represents a c) annualized dividend and a dividend yield of 4.9%.

Embecta has a payout ratio of 21.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Embecta to earn $3.07 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 19.5%.

Embecta Stock Performance

Shares of EMBC stock traded up $1.92 during mid-day trading on Friday, hitting $12.28. The company's stock had a trading volume of 2,062,491 shares, compared to its average volume of 555,122. Embecta has a 52-week low of $9.20 and a 52-week high of $21.48. The business has a 50-day moving average price of $10.24 and a 200 day moving average price of $12.34. The stock has a market cap of $717.64 million, a price-to-earnings ratio of 8.59, a PEG ratio of 0.79 and a beta of 1.08.

Embecta (NASDAQ:EMBC - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.35. The firm had revenue of $295.50 million during the quarter, compared to analysts' expectations of $278.15 million. Embecta had a net margin of 4.89% and a negative return on equity of 19.67%. The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. Equities research analysts predict that Embecta will post 2.85 EPS for the current fiscal year.

About Embecta

Embecta Corp., a medical device company, focuses on the provision of various solutions to enhance the health and wellbeing of people living with diabetes. Its products include pen needles, syringes, and safety injection devices, as well as digital applications to assist people with managing patient's diabetes.