Amcor plc (NYSE:AMCR) declared a quarterly dividend on Thursday, November 5th, Zacks reports. Shareholders of record on Tuesday, November 24th will be given a dividend of 0.117 per share on Tuesday, December 15th. This represents a $0.47 annualized dividend and a yield of 3.92%. The ex-dividend date is Monday, November 23rd. This is a positive change from Amcor's previous quarterly dividend of $0.12.
Amcor has a dividend payout ratio of 73.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Amcor to earn $0.75 per share next year, which means the company should continue to be able to cover its $0.47 annual dividend with an expected future payout ratio of 62.7%.
NYSE AMCR opened at $11.93 on Friday. The stock has a market capitalization of $18.71 billion, a PE ratio of 18.64, a P/E/G ratio of 2.22 and a beta of 0.79. The business has a 50 day simple moving average of $11.28 and a two-hundred day simple moving average of $10.66. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.27 and a quick ratio of 0.78. Amcor has a 1-year low of $5.80 and a 1-year high of $12.40.
Amcor (NYSE:AMCR) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $3.12 billion. Amcor had a return on equity of 18.75% and a net margin of 6.00%. The firm's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. On average, analysts anticipate that Amcor will post 0.71 EPS for the current fiscal year.
A number of brokerages have recently commented on AMCR. Seaport Global Securities began coverage on Amcor in a report on Wednesday, October 14th. They issued a "neutral" rating for the company. Zacks Investment Research cut Amcor from a "buy" rating to a "hold" rating in a report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft lifted their target price on Amcor from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Friday, August 21st. BMO Capital Markets lifted their target price on Amcor from $9.00 to $11.00 in a report on Wednesday, August 19th. Finally, Needham & Company LLC cut Amcor from a "buy" rating to a "hold" rating in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company's stock. Amcor presently has a consensus rating of "Hold" and an average price target of $12.32.
Amcor plc develops, manufactures, and sells various packaging products for food, beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries worldwide. It operates through two segments, Flexibles and Rigid Packaging. The company provides flexible packaging products, rigid packaging containers, specialty cartons, and closures.
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