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

Embecta Corp. (NASDAQ:EMBC) declared a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 0.15 per share on Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.42%. The ex-dividend date is Friday, February 28th.

Embecta has a payout ratio of 19.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Embecta to earn $3.10 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 19.4%.

Embecta Stock Down 1.1 %

NASDAQ:EMBC traded down $0.19 during mid-day trading on Friday, hitting $17.54. 276,162 shares of the stock traded hands, compared to its average volume of 375,109. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.97 and a beta of 1.20. Embecta has a 52 week low of $9.93 and a 52 week high of $21.48. The firm’s 50 day moving average is $19.65 and its two-hundred day moving average is $16.53.

Embecta (NASDAQ:EMBC) last issued its earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.20. Embecta had a net margin of 6.97% and a negative return on equity of 18.54%. As a group, research analysts predict that Embecta will post 2.84 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on EMBC shares. Morgan Stanley upgraded shares of Embecta from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $13.00 to $20.00 in a research note on Monday, December 2nd. BTIG Research raised shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Wednesday, November 27th.

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.