Ardagh Metal Packaging (NYSE:AMBP) Posts Earnings Results, Meets Expectations

Ardagh Metal Packaging (NYSE:AMBP) released its quarterly earnings results on Thursday. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01, Briefing.com reports. Ardagh Metal Packaging had a positive return on equity of 38.48% and a negative net margin of 1.04%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 earnings per share.

Ardagh Metal Packaging Stock Up 1.0 %

NYSE AMBP traded up $0.04 on Friday, hitting $4.05. 2,734,834 shares of the company were exchanged, compared to its average volume of 1,235,018. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 34.34. The company has a market cap of $2.42 billion, a PE ratio of -34.00, a PEG ratio of 0.75 and a beta of 0.75. The stock has a fifty day moving average of $3.47 and a 200-day moving average of $3.55. Ardagh Metal Packaging has a 12 month low of $2.57 and a 12 month high of $4.29.

Ardagh Metal Packaging Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be given a dividend of $0.10 per share. 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 presently -333.33%.

Analyst Ratings Changes

A number of analysts recently weighed in on AMBP shares. UBS Group started coverage on Ardagh Metal Packaging in a report on Tuesday, January 16th. They issued a “buy” rating and a $5.00 price objective for the company. Bank of America downgraded Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $4.10 to $3.50 in a research report on Monday, April 1st. Wells Fargo & Company upped their target price on Ardagh Metal Packaging from $3.70 to $3.75 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Morgan Stanley began coverage on shares of Ardagh Metal Packaging in a report on Monday, March 18th. They set an “underweight” rating and a $3.20 price target for the company. Finally, Barclays lowered shares of Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective on the stock. 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 issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.