Equities research analysts predict that Ardagh Group SA (NYSE:ARD) will announce $2.38 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Ardagh Group’s earnings, with the lowest sales estimate coming in at $2.38 billion and the highest estimate coming in at $2.39 billion. Ardagh Group reported sales of $2.39 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 0.4%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, October 31st.
According to Zacks, analysts expect that Ardagh Group will report full year sales of $9.02 billion for the current financial year, with estimates ranging from $9.01 billion to $9.03 billion. For the next financial year, analysts expect that the company will post sales of $9.07 billion, with estimates ranging from $9.02 billion to $9.11 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Ardagh Group.
Ardagh Group (NYSE:ARD) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Ardagh Group had a negative return on equity of 26.87% and a negative net margin of 0.61%. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the firm earned $0.51 earnings per share. The company’s revenue was down 3.4% compared to the same quarter last year.
A number of research analysts have recently issued reports on ARD shares. ValuEngine lowered shares of Ardagh Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lowered shares of Ardagh Group from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $15.00 to $17.00 in a research note on Wednesday, July 17th. Citigroup boosted their price target on shares of Ardagh Group from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Zacks Investment Research lowered shares of Ardagh Group from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Ardagh Group presently has a consensus rating of “Hold” and an average price target of $18.22.
Several institutional investors have recently modified their holdings of ARD. Machina Capital S.A.S. acquired a new position in Ardagh Group during the second quarter worth about $76,000. State of Alaska Department of Revenue grew its position in Ardagh Group by 21.7% during the third quarter. State of Alaska Department of Revenue now owns 27,021 shares of the company’s stock worth $423,000 after buying an additional 4,825 shares during the period. Gabelli Funds LLC grew its position in Ardagh Group by 54.5% during the second quarter. Gabelli Funds LLC now owns 15,586 shares of the company’s stock worth $273,000 after buying an additional 5,500 shares during the period. Calamos Advisors LLC acquired a new position in Ardagh Group during the second quarter worth about $201,000. Finally, Wells Fargo & Company MN grew its position in Ardagh Group by 7.1% during the second quarter. Wells Fargo & Company MN now owns 210,710 shares of the company’s stock worth $3,687,000 after buying an additional 14,005 shares during the period. Institutional investors and hedge funds own 85.41% of the company’s stock.
Shares of Ardagh Group stock opened at $17.99 on Wednesday. Ardagh Group has a 52-week low of $10.09 and a 52-week high of $20.00. The company’s 50-day simple moving average is $16.63 and its 200-day simple moving average is $16.00. The firm has a market cap of $328.35 million, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 1.52 and a beta of 1.20.
Ardagh Group Company Profile
Ardagh Group SA manufactures and supplies rigid packaging solutions primarily for the food and beverage markets worldwide. The company operates in four segments: Metal Packaging Europe, Metal Packaging Americas, Glass Packaging Europe, and Glass Packaging North America. Its metal packaging products include aluminum and steel beverage cans; two-piece aluminum, two-piece tinplate, and three-piece tinplate food and specialty cans; and a range of can ends, including easy-open and peelable ends.
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