Ardagh Metal Packaging (NYSE:AMBP) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Ardagh Metal Packaging (NYSE:AMBP) posted its earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01, Zacks reports. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%.

Ardagh Metal Packaging Trading Down 6.5 %

NYSE AMBP traded down $0.21 on Friday, hitting $2.96. 686,197 shares of the stock traded hands, compared to its average volume of 1,389,555. The stock has a 50-day moving average of $2.80 and a 200 day moving average of $3.34. Ardagh Metal Packaging has a twelve month low of $2.50 and a twelve month high of $4.26. The company has a market capitalization of $1.77 billion, a P/E ratio of -24.62, a price-to-earnings-growth ratio of 0.54 and a beta of 0.64.

Ardagh Metal Packaging Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 13.54%. Ardagh Metal Packaging’s dividend payout ratio (DPR) is -333.33%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company restated an “equal weight” rating and issued a $3.35 target price (down from $3.60) on shares of Ardagh Metal Packaging in a research note on Thursday, January 16th. Morgan Stanley upgraded shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $3.60 to $3.10 in a report on Monday, January 13th. Bank of America downgraded Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and lowered their target price for the company from $4.90 to $4.00 in a research note on Wednesday, December 11th. UBS Group cut their price target on Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, Citigroup reduced their price target on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating for the company in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Ardagh Metal Packaging currently has an average rating of “Hold” and an average price target of $3.44.

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.