Amcor plc Announces Quarterly Dividend of $0.13 (NYSE:AMCR)

Amcor plc (NYSE:AMCR - Get Free Report) declared a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Shareholders of record on Wednesday, February 26th will be given a dividend of 0.1275 per share on Tuesday, March 18th. This represents a $0.51 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Wednesday, February 26th.

Amcor has increased its dividend payment by an average of 2.1% annually over the last three years. Amcor has a payout ratio of 64.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Amcor to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.51 annual dividend with an expected future payout ratio of 64.6%.

Amcor Stock Performance

Shares of AMCR remained flat at $10.03 during trading hours on Friday. The stock had a trading volume of 17,235,207 shares, compared to its average volume of 20,073,714. The company's 50 day simple moving average is $9.74 and its 200 day simple moving average is $10.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.26. Amcor has a 52 week low of $8.78 and a 52 week high of $11.48. The company has a market capitalization of $14.50 billion, a P/E ratio of 18.24, a PEG ratio of 1.92 and a beta of 0.84.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the company posted $0.09 earnings per share. The company's revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities analysts forecast that Amcor will post 0.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an "equal weight" rating in a research report on Tuesday, October 15th. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Bank of America raised Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price on the stock in a report on Wednesday, December 11th. UBS Group raised Amcor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Finally, Macquarie raised Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $11.46.

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.