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

Ardagh Metal Packaging (NYSE:AMBP) posted its quarterly earnings results on Thursday. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01, Briefing.com reports. The business 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 1.26% and a positive return on equity of 43.89%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 earnings per share.

Ardagh Metal Packaging Price Performance

Shares of NYSE:AMBP opened at $4.05 on Friday. The company has a 50-day simple moving average of $3.48 and a 200-day simple moving average of $3.56. Ardagh Metal Packaging has a one year low of $2.57 and a one year high of $4.29. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 34.34.

Ardagh Metal Packaging Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.88%. Ardagh Metal Packaging’s payout ratio is -285.69%.

Analyst Ratings Changes

AMBP has been the subject of a number of analyst reports. UBS Group initiated coverage on shares of Ardagh Metal Packaging in a research note on Tuesday, January 16th. They set a “buy” rating and a $5.00 target price for the company. Truist Financial reiterated a “hold” rating and set a $3.00 target price (down previously from $4.00) on shares of Ardagh Metal Packaging in a research note on Monday, February 26th. Wells Fargo & Company boosted their target price on shares of Ardagh Metal Packaging from $3.70 to $3.75 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Bank of America downgraded shares of Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $4.10 to $3.50 in a research note on Monday, April 1st. Finally, Barclays downgraded shares of Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 target price for the company. in a research note on Monday, January 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $4.31.

Ardagh Metal Packaging Company Profile

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.