Embecta Corp. (NASDAQ:EMBC) Plans Quarterly Dividend of $0.15

Embecta Corp. (NASDAQ:EMBC) announced a quarterly dividend on Thursday, May 9th, Zacks reports. Shareholders of record on Tuesday, May 28th will be paid a dividend of 0.15 per share on Friday, June 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Friday, May 24th.

Embecta has a payout ratio of 26.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Embecta to earn $2.35 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 25.5%.

Embecta Stock Performance

EMBC stock opened at $13.57 on Thursday. The stock’s 50 day moving average price is $12.10 and its 200 day moving average price is $15.05. The firm has a market cap of $782.58 million, a P/E ratio of 11.21 and a beta of 0.86. Embecta has a 1 year low of $9.93 and a 1 year high of $28.99.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.24. Embecta had a negative return on equity of 18.42% and a net margin of 6.20%. The business had revenue of $287.20 million for the quarter, compared to analyst estimates of $264.70 million. During the same quarter last year, the company earned $0.75 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, research analysts predict that Embecta will post 2.3 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Morgan Stanley cut their price target on Embecta from $16.00 to $13.00 and set an “underweight” rating for the company in a report on Friday, May 10th.

About Embecta

Embecta Corp., a medical device company, focuses on the provision of various solutions to enhance the health and wellbeing of people living with diabetes. Its products include pen needles, syringes, and safety injection devices, as well as digital applications to assist people with managing patient's diabetes.