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

Ardagh Metal Packaging S.A. (NYSE:AMBP) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors 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 9.98%. The ex-dividend date is Wednesday, June 12th.

Ardagh Metal Packaging has a dividend 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 Trading Up 7.5 %

AMBP stock opened at $4.01 on Friday. The firm has a fifty day moving average price of $3.47 and a 200 day moving average price of $3.55. Ardagh Metal Packaging has a fifty-two week low of $2.57 and a fifty-two week 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 firm has a market cap of $2.40 billion, a PE ratio of -33.42, a price-to-earnings-growth ratio of 0.75 and a beta of 0.75.

Ardagh Metal Packaging (NYSE:AMBP) last posted its earnings results on Thursday, April 25th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. Ardagh Metal Packaging had a negative net margin of 1.04% and a positive return on equity of 38.48%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm posted $0.01 earnings per share. Ardagh Metal Packaging’s revenue for the quarter was up .9% compared to the same quarter last year. Sell-side analysts anticipate that Ardagh Metal Packaging will post 0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on AMBP. Barclays lowered shares of Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective for the company. in a research note on Monday, January 8th. 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. Wells Fargo & Company boosted their target price on shares of Ardagh Metal Packaging from $3.70 to $3.75 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Morgan Stanley initiated coverage on shares of Ardagh Metal Packaging in a research note on Monday, March 18th. They set an “underweight” rating and a $3.20 target price for the company. Finally, Bank of America lowered shares of Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $4.10 to $3.50 in a research note on Monday, April 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.