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

Ardagh Metal Packaging S.A. (NYSE:AMBP) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Wednesday, June 12th will be paid a dividend of 0.10 per share on Wednesday, June 26th. This represents a $0.40 dividend on an annualized basis and a yield of 9.98%. The ex-dividend date of this dividend 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. Research 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 Stock Performance

Shares of AMBP opened at $4.01 on Friday. Ardagh Metal Packaging has a twelve month low of $2.57 and a twelve month high of $4.29. The stock’s 50 day moving average is $3.47 and its two-hundred day moving average is $3.55. 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 (NYSE:AMBP) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Ardagh Metal Packaging had a positive return on equity of 38.48% and a negative net margin of 1.04%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.01 EPS. On average, equities analysts expect that Ardagh Metal Packaging will post 0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on AMBP. Morgan Stanley began coverage on Ardagh Metal Packaging in a research note on Monday, March 18th. They set an “underweight” rating and a $3.20 price target on the stock. UBS Group assumed coverage on Ardagh Metal Packaging in a research note on Tuesday, January 16th. They set a “buy” rating and a $5.00 price target on the stock. Bank of America lowered Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $4.10 to $3.50 in a research note 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 research note on Thursday, April 11th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $3.00 target price (down previously from $4.00) on shares of Ardagh Metal Packaging in a research note on Monday, February 26th. 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.com, Ardagh Metal Packaging presently has a consensus 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.