According to Zacks, “Ardagh Group S.A. provides metal and glass packaging solutions, producing packaging for food, beverage and consumer brands. Ardagh Group S.A. is based in Luxembourg. “
Several other research firms have also recently issued reports on ARD. ValuEngine cut Ardagh Group from a sell rating to a strong sell rating in a report on Thursday, August 1st. Citigroup raised their price objective on Ardagh Group from $16.00 to $22.00 and gave the stock a buy rating in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. cut Ardagh Group from a neutral rating to an underweight rating and raised their price objective for the stock from $15.00 to $17.00 in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $18.22.
Ardagh Group (NYSE:ARD) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). Ardagh Group had a negative return on equity of 26.87% and a negative net margin of 0.61%. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the business earned $0.51 EPS. Ardagh Group’s revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, equities analysts anticipate that Ardagh Group will post 1.66 EPS for the current year.
The company also recently announced a dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.14 dividend. The ex-dividend date is Thursday, August 15th.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Canyon Capital Advisors LLC raised its position in shares of Ardagh Group by 9.6% in the 2nd quarter. Canyon Capital Advisors LLC now owns 2,907,518 shares of the company’s stock worth $50,882,000 after buying an additional 254,462 shares during the period. Private Management Group Inc. raised its position in shares of Ardagh Group by 15.8% in the 1st quarter. Private Management Group Inc. now owns 1,554,714 shares of the company’s stock worth $20,211,000 after buying an additional 212,111 shares during the period. Clearbridge Investments LLC raised its position in shares of Ardagh Group by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 1,379,538 shares of the company’s stock worth $17,934,000 after buying an additional 6,820 shares during the period. Schroder Investment Management Group raised its position in shares of Ardagh Group by 2.9% in the 2nd quarter. Schroder Investment Management Group now owns 973,544 shares of the company’s stock worth $17,037,000 after buying an additional 27,605 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Ardagh Group by 47.7% in the 2nd quarter. Renaissance Technologies LLC now owns 568,290 shares of the company’s stock worth $9,945,000 after buying an additional 183,600 shares during the period. 85.81% of the stock is currently owned by institutional investors and hedge funds.
About Ardagh Group
Ardagh Group SA manufactures and supplies rigid packaging solutions primarily for the food and beverage markets worldwide. The company operates in four segments: Metal Packaging Europe, Metal Packaging Americas, Glass Packaging Europe, and Glass Packaging North America. Its metal packaging products include aluminum and steel beverage cans; two-piece aluminum, two-piece tinplate, and three-piece tinplate food and specialty cans; and a range of can ends, including easy-open and peelable ends.
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