Amcor plc (NYSE:AMCR – Get Free Report) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Shareholders of record on Wednesday, May 22nd will be paid 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 5.02%. The ex-dividend date is Tuesday, May 21st.
Amcor has raised its dividend by an average of 2.1% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Amcor has a payout ratio of 68.5% meaning 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 Trading Up 1.7 %
Shares of AMCR traded up $0.17 during midday trading on Thursday, reaching $9.97. The company had a trading volume of 934,102 shares, compared to its average volume of 8,657,006. Amcor has a 1-year low of $8.45 and a 1-year high of $10.53. The stock has a market cap of $14.41 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 9.83 and a beta of 0.79. The firm has a 50 day simple moving average of $9.20 and a 200-day simple moving average of $9.28. The company has a quick ratio of 0.71, a current ratio of 1.25 and a debt-to-equity ratio of 1.74.
Analyst Ratings Changes
Separately, JPMorgan Chase & Co. boosted their target price on Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.00.
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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.
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