Ardagh Metal Packaging (NYSE:AMBP) Announces Earnings Results, Hits Estimates

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

Ardagh Metal Packaging Price Performance

AMBP traded up $0.06 on Friday, reaching $4.07. The company had a trading volume of 1,331,488 shares, compared to its average volume of 1,216,950. The business has a 50 day simple moving average of $3.47 and a 200 day simple moving average of $3.55. The company has a market cap of $2.43 billion, a price-to-earnings ratio of -34.00, a P/E/G ratio of 0.75 and a beta of 0.75. The company has a debt-to-equity ratio of 34.34, a quick ratio of 0.68 and a current ratio of 0.99. Ardagh Metal Packaging has a 52-week low of $2.57 and a 52-week high of $4.29.

Ardagh Metal Packaging Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.83%. The ex-dividend date is Wednesday, June 12th. Ardagh Metal Packaging’s payout ratio is -333.33%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays lowered shares of Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 price target on the stock. in a report on Monday, January 8th. Truist Financial restated a “hold” rating and set a $3.00 price objective (down previously from $4.00) on shares of Ardagh Metal Packaging in a report on Monday, February 26th. UBS Group began coverage on shares of Ardagh Metal Packaging in a research note on Tuesday, January 16th. They issued a “buy” rating and a $5.00 target price for the company. Bank of America lowered shares of Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $4.10 to $3.50 in a research note on Monday, April 1st. Finally, Morgan Stanley began coverage on shares of Ardagh Metal Packaging in a research note on Monday, March 18th. They issued an “underweight” rating and a $3.20 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.