Amcor plc (AMCR) To Go Ex-Dividend on February 26th

Amcor plc (NYSE:AMCR) announced 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 dividend yield of 4.99%. The ex-dividend date is Wednesday, February 26th.

Amcor has raised its dividend payment by an average of 2.1% annually over the last three years. Amcor has a dividend payout ratio of 64.6% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE AMCR opened at $10.21 on Thursday. The stock has a market capitalization of $14.76 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 1.86 and a beta of 0.84. The business has a 50-day moving average of $9.77 and a 200-day moving average of $10.44. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. Amcor has a fifty-two week low of $8.78 and a fifty-two week high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. Amcor’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 EPS. As a group, sell-side analysts predict that Amcor will post 0.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and lifted their price target for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a report on Monday. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Finally, Wells Fargo & Company boosted their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Three investment 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Company Profile

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.