Ardagh Metal Packaging (NYSE:AMBP) Issues Earnings Results, Meets Estimates

Ardagh Metal Packaging (NYSE:AMBP) announced its earnings results on Tuesday. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08, Zacks reports. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.52 billion. Ardagh Metal Packaging had a net margin of 0.68% and a negative return on equity of 27.93%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 EPS.

Ardagh Metal Packaging Price Performance

NYSE:AMBP traded up $0.23 on Thursday, hitting $4.83. 337,284 shares of the company’s stock were exchanged, compared to its average volume of 1,801,924. The firm has a 50-day moving average price of $4.77 and a 200-day moving average price of $4.49. Ardagh Metal Packaging has a 52 week low of $3.29 and a 52 week high of $5.47. The company has a market cap of $2.88 billion, a P/E ratio of 80.76, a price-to-earnings-growth ratio of 0.83 and a beta of 0.50.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMBP. Citigroup restated a “buy” rating on shares of Ardagh Metal Packaging in a report on Friday, July 24th. Wells Fargo & Company increased their price objective on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. Weiss Ratings raised Ardagh Metal Packaging from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 7th. Wall Street Zen lowered Ardagh Metal Packaging from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Ardagh Metal Packaging in a research note on Thursday, August 20th. They issued a “hold” rating and a $5.20 target price on the stock. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Ardagh Metal Packaging currently has an average rating of “Hold” and a consensus price target of $4.83.

Ardagh Metal Packaging Company Profile

Ardagh Metal Packaging SA (NYSE: AMBP) is a global manufacturer of beverage cans and related metal packaging. The company produces aluminum and steel cans, ends and other components used for beer, soft drinks, energy drinks, sparkling water, juices and other beverages. Its products are supplied to major beverage companies, regional brands and contract manufacturers.

The company operates production and design facilities across Europe, North America and South America, including Brazil. Its packaging is designed to support brand presentation, product protection and efficient distribution, while metal cans can be recycled repeatedly without losing their basic properties.

Ardagh Metal Packaging became a separately listed public company in 2021 through a business combination involving Ardagh Group’s metal packaging business and Gores Holdings V.