Amcor plc (NYSE:AMCR) Increases Dividend to $0.13 Per Share

Amcor plc (NYSE:AMCR) declared a quarterly dividend on Thursday, October 31st, RTT News reports. Investors of record on Thursday, November 21st will be given a dividend of 0.1275 per share on Wednesday, December 11th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from Amcor’s previous quarterly dividend of $0.13.

Amcor has increased its dividend by an average of 2.1% annually over the last three years. Amcor has a dividend payout ratio of 67.6% indicating that 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 $0.50 annual dividend with an expected future payout ratio of 63.3%.

Amcor Trading Down 7.8 %

Shares of NYSE:AMCR opened at $10.26 on Friday. The stock has a market capitalization of $14.83 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.98 and a beta of 0.85. Amcor has a 1-year low of $8.71 and a 1-year high of $11.48. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17. The company has a 50 day moving average price of $11.13 and a 200 day moving average price of $10.40.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.16 earnings per share. On average, research analysts anticipate that Amcor will post 0.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AMCR. Robert W. Baird raised their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Wells Fargo & Company raised their price objective on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Citigroup raised their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Stifel Nicolaus assumed coverage on shares of Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Amcor presently has an average rating of “Hold” and a consensus target price of $10.78.

About Amcor

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.