Ardagh Metal Packaging S.A. (NYSE:AMBP) Declares Quarterly Dividend of $0.10

Ardagh Metal Packaging S.A. (NYSE:AMBP) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Wednesday, June 12th will be given a dividend of 0.10 per share on Wednesday, June 26th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.88%. The ex-dividend date is Wednesday, June 12th.

Ardagh Metal Packaging has a payout ratio of 166.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Ardagh Metal Packaging to earn $0.23 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 173.9%.

Ardagh Metal Packaging Stock Performance

AMBP stock opened at $4.05 on Friday. Ardagh Metal Packaging has a twelve month low of $2.57 and a twelve month high of $4.29. The company has a debt-to-equity ratio of 34.34, a quick ratio of 0.68 and a current ratio of 0.99. The business has a fifty day moving average of $3.48 and a 200-day moving average of $3.56.

Ardagh Metal Packaging (NYSE:AMBP) last released its earnings results on Thursday, April 25th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Ardagh Metal Packaging had a positive return on equity of 43.89% and a negative net margin of 1.26%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 earnings per share. As a group, equities research analysts predict that Ardagh Metal Packaging will post 0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

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