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

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 Wednesday, August 6th, RTT News reports. Investors of record on Friday, August 29th will be paid a dividend of 0.15 per share on Monday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, August 29th.

Embecta has a payout ratio of 21.0% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Up 3.7%

Shares of NASDAQ EMBC traded up $0.47 during mid-day trading on Tuesday, reaching $13.20. The company had a trading volume of 468,655 shares, compared to its average volume of 601,609. The stock has a market cap of $771.12 million, a PE ratio of 9.23, a P/E/G ratio of 0.79 and a beta of 1.08. The company has a 50-day moving average price of $10.29 and a two-hundred day moving average price of $12.25. Embecta has a 1-year low of $9.20 and a 1-year high of $21.48.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.35. Embecta had a negative return on equity of 23.40% and a net margin of 7.58%. The business had revenue of $295.50 million for the quarter, compared to the consensus estimate of $278.15 million. During the same quarter in the previous year, the company posted $0.74 earnings per share. Embecta's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts expect that Embecta will post 2.85 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on EMBC shares. Wall Street Zen raised Embecta from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. BTIG Research set a $25.00 price objective on Embecta and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Mizuho reduced their price objective on Embecta from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th.

Embecta Company Profile

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.