Ardagh Metal Packaging S.A. (NYSE:AMBP) to Issue $0.10 Quarterly Dividend

Ardagh Metal Packaging S.A. (NYSE:AMBP) announced a quarterly dividend on Thursday, July 23rd. Investors of record on Thursday, September 10th will be given a dividend of 0.10 per share on Thursday, September 24th. This represents a c) dividend on an annualized basis and a yield of 8.5%. The ex-dividend date is Thursday, September 10th.

Ardagh Metal Packaging has a payout ratio of 166.7% meaning 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 $0.30 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 133.3%.

Ardagh Metal Packaging Stock Down 0.1%

Ardagh Metal Packaging stock opened at $4.70 on Friday. Ardagh Metal Packaging has a 52-week low of $3.29 and a 52-week high of $5.43. The firm’s fifty day moving average is $4.35 and its 200 day moving average is $4.32. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 1.01 and a beta of 0.51.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Ardagh Metal Packaging had a net margin of 0.19% and a negative return on equity of 31.14%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the company posted $0.08 EPS. The business’s revenue was up 17.7% on a year-over-year basis. On average, equities research analysts anticipate that Ardagh Metal Packaging will post 0.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AMBP shares. UBS Group lowered their price target on shares of Ardagh Metal Packaging from $4.75 to $4.25 and set a “neutral” rating for the company in a report on Friday, April 10th. Weiss Ratings raised Ardagh Metal Packaging from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. Citigroup cut their target price on Ardagh Metal Packaging from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Finally, Wells Fargo & Company raised their price target on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.71.

About Ardagh Metal Packaging

Ardagh Metal Packaging (NYSE: AMBP) is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two?piece and three?piece cans, a variety of can ends and closures, and value?added services such as custom lithography and decorating.

The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.