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

Ardagh Metal Packaging (NYSE:AMBP) announced 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 firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%.

Ardagh Metal Packaging Trading Down 9.7 %

Shares of AMBP traded down $0.31 during midday trading on Friday, hitting $2.86. The stock had a trading volume of 5,560,246 shares, compared to its average volume of 1,516,019. Ardagh Metal Packaging has a fifty-two week low of $2.50 and a fifty-two week high of $4.26. The business has a 50-day simple moving average of $2.80 and a two-hundred day simple moving average of $3.34. The firm has a market cap of $1.71 billion, a P/E ratio of -23.79, a price-to-earnings-growth ratio of 0.54 and a beta of 0.64.

Ardagh Metal Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 14.01%. The ex-dividend date is Thursday, March 13th. Ardagh Metal Packaging’s payout ratio is -333.33%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AMBP shares. Wells Fargo & Company reiterated an “equal weight” rating and issued a $3.35 target price (down previously from $3.60) on shares of Ardagh Metal Packaging in a research report on Thursday, January 16th. Morgan Stanley upgraded shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $3.60 to $3.10 in a research report on Monday, January 13th. UBS Group decreased their target price on shares of Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating for the company in a report on Friday, January 10th. Bank of America cut shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $4.90 to $4.00 in a report on Wednesday, December 11th. Finally, Citigroup decreased their target price on shares of 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.