Ardagh Metal Packaging (NYSE:AMBP) Issues Quarterly Earnings Results

Ardagh Metal Packaging (NYSE:AMBP) issued its quarterly earnings data on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01, Briefing.com reports. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Ardagh Metal Packaging had a negative net margin of 1.04% and a positive return on equity of 38.48%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 EPS.

Ardagh Metal Packaging Price Performance

Shares of NYSE:AMBP traded up $0.04 during midday trading on Friday, reaching $4.05. 2,734,947 shares of the company were exchanged, compared to its average volume of 1,235,018. Ardagh Metal Packaging has a one year low of $2.57 and a one year high of $4.29. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 34.34. The business’s fifty day moving average is $3.47 and its two-hundred day moving average is $3.55. The stock has a market cap of $2.42 billion, a PE ratio of -34.00, a price-to-earnings-growth ratio of 0.75 and a beta of 0.75.

Ardagh Metal Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 9.88%. The ex-dividend date is Wednesday, June 12th. Ardagh Metal Packaging’s payout ratio is currently -333.33%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMBP. Morgan Stanley started coverage on Ardagh Metal Packaging in a research report on Monday, March 18th. They set an “underweight” rating and a $3.20 target price on the stock. Truist Financial reaffirmed a “hold” rating and set a $3.00 price objective (down from $4.00) on shares of Ardagh Metal Packaging in a research report on Monday, February 26th. UBS Group began coverage on shares of Ardagh Metal Packaging in a report on Tuesday, January 16th. They issued a “buy” rating and a $5.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Ardagh Metal Packaging from $3.70 to $3.75 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Finally, Bank of America cut shares of Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $4.10 to $3.50 in a research note on Monday, April 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.31.

About Ardagh Metal Packaging

Ardagh Metal Packaging SA, together with its subsidiaries, supplies consumer metal beverage cans in Europe, the United States, and Brazil. Its products are used in various end-use categories, including beer, carbonated soft drinks, energy drinks, hard seltzers, juices, pre-mixed cocktails, teas, sparkling waters, and wine.