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

Embecta Corp. (NASDAQ:EMBC) declared a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, February 28th.

Embecta has a payout ratio of 19.8% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 1.1 %

Shares of NASDAQ:EMBC traded down $0.19 on Friday, reaching $17.54. 276,162 shares of the company traded hands, compared to its average volume of 375,109. The business’s 50-day simple moving average is $19.65 and its 200 day simple moving average is $16.53. The stock has a market capitalization of $1.02 billion, a P/E ratio of 12.99, a price-to-earnings-growth 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.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.45 by $0.20. Embecta had a net margin of 6.97% and a negative return on equity of 18.54%. Sell-side analysts expect that Embecta will post 2.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EMBC has been the subject of several recent research reports. BTIG Research upgraded shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a report on Wednesday, November 27th. Morgan Stanley raised shares of Embecta from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $13.00 to $20.00 in a research report on Monday, December 2nd.

Embecta Company Profile

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.