Ardagh Metal Packaging (NYSE:AMBP) Issues Earnings Results, Hits Expectations

Ardagh Metal Packaging (NYSE:AMBP) posted its quarterly earnings results on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01, Briefing.com reports. Ardagh Metal Packaging had a negative net margin of 1.26% and a positive return on equity of 43.89%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business posted $0.01 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year.

Ardagh Metal Packaging Stock Up 1.0 %

NYSE AMBP opened at $4.05 on Friday. Ardagh Metal Packaging has a 52 week low of $2.57 and a 52 week high of $4.29. The company has a debt-to-equity ratio of 34.34, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a fifty day moving average of $3.48 and a 200-day moving average of $3.57.

Ardagh Metal Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 9.88%. The ex-dividend date of this dividend is Wednesday, June 12th. Ardagh Metal Packaging’s dividend payout ratio is -285.69%.

Wall Street Analyst Weigh In

Several analysts recently commented on AMBP shares. Wells Fargo & Company boosted their price target on 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. UBS Group started coverage on shares of Ardagh Metal Packaging in a report on Tuesday, January 16th. They set a “buy” rating and a $5.00 price target for the company. Morgan Stanley assumed coverage on shares of Ardagh Metal Packaging in a research note on Monday, March 18th. They set an “underweight” rating and a $3.20 price objective on the stock. Bank of America downgraded Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $4.10 to $3.50 in a report on Monday, April 1st. Finally, Barclays cut Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 price target for the company. in a report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Ardagh Metal Packaging presently has an average rating of “Hold” and an average price target of $4.31.

About Ardagh Metal Packaging

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.