Amcor plc (NYSE:AMCR - Get Free Report) announced a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Investors of record on Wednesday, May 22nd will be given a dividend of 0.125 per share on Tuesday, June 11th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date is Tuesday, May 21st.
Amcor has increased its dividend payment by an average of 2.1% annually over the last three years and has raised its dividend every year for the last 4 years. Amcor has a payout ratio of 68.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance
Shares of AMCR traded up $0.86 on Wednesday, reaching $9.80. The stock had a trading volume of 25,822,949 shares, compared to its average volume of 8,750,380. The firm has a market capitalization of $14.16 billion, a PE ratio of 22.26, a PEG ratio of 9.95 and a beta of 0.78. The company has a quick ratio of 0.71, a current ratio of 1.25 and a debt-to-equity ratio of 1.74. The firm has a 50-day moving average of $9.20 and a 200 day moving average of $9.28. Amcor has a twelve month low of $8.45 and a twelve month high of $11.04.
Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.01. The business had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.49 billion. Amcor had a return on equity of 24.28% and a net margin of 4.59%. The company's revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. Sell-side analysts expect that Amcor will post 0.68 EPS for the current year.
Analysts Set New Price Targets
Separately, JPMorgan Chase & Co. increased their target price on Amcor from $9.90 to $10.00 and gave the company an "overweight" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Amcor currently has an average rating of "Hold" and a consensus target price of $10.00.
View Our Latest Analysis on Amcor
About Amcor
(
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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.
Further Reading
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