Shares of Ardagh Group S.A. (NYSE:ARD) have received an average recommendation of “Buy” from the nine brokerages that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $24.50.
ARD has been the topic of several research analyst reports. Zacks Investment Research raised Ardagh Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. BMO Capital Markets started coverage on Ardagh Group in a research note on Monday, June 19th. They issued a “market perform” rating and a $26.00 price target for the company. Finally, Barclays PLC restated a “hold” rating and issued a $23.00 target price on shares of Ardagh Group in a report on Wednesday, August 2nd.
Shares of Ardagh Group (NYSE ARD) traded down 1.10% during midday trading on Wednesday, reaching $20.76. 74,390 shares of the company were exchanged. The firm’s 50 day moving average is $21.18 and its 200-day moving average is $21.55. Ardagh Group has a 52-week low of $0.09 and a 52-week high of $24.54. The company’s market capitalization is $4.91 billion.
Ardagh Group (NYSE:ARD) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.24. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Ardagh Group’s quarterly revenue was up 57.8% on a year-over-year basis. On average, equities analysts forecast that Ardagh Group will post $1.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.70%.
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Several hedge funds have recently modified their holdings of ARD. Cubist Systematic Strategies LLC lifted its holdings in shares of Ardagh Group by 3,749.0% during the second quarter. Cubist Systematic Strategies LLC now owns 9,584 shares of the company’s stock worth $217,000 after buying an additional 9,335 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Ardagh Group during the first quarter worth approximately $239,000. Wells Fargo & Company MN lifted its holdings in shares of Ardagh Group by 1.1% during the second quarter. Wells Fargo & Company MN now owns 11,740 shares of the company’s stock worth $265,000 after buying an additional 126 shares during the last quarter. Vanguard Group Inc. acquired a new position in shares of Ardagh Group during the second quarter worth approximately $289,000. Finally, Rhumbline Advisers acquired a new position in shares of Ardagh Group during the second quarter worth approximately $324,000. Institutional investors own 99.93% of the company’s stock.
Ardagh Group Company Profile
Ardagh Group SA, formerly Ardagh Finance Holdings SA, is a Luxembourg-based company engaged in the packing industry. The Company focuses on the design and manufacture of rigid packaging solutions mainly for food and beverage markets. Its activities are divided into two business segments: Metal packing, which supplies aluminum and steel beverage cans, two-piece aluminum, two-piece tinplate and three-piece tinplate food and specialty cans, as well as a range of can ends, among others, and Glass packing, which delivers glass containers, bottles and jars, among others.
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