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

Ardagh Metal Packaging S.A. (NYSE:AMBP) announced a quarterly dividend on Thursday, October 23rd. Shareholders of record on Monday, November 3rd will be paid a dividend of 0.10 per share on Thursday, November 13th. This represents a c) dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date of this dividend is Monday, November 3rd.

Ardagh Metal Packaging has a dividend payout ratio of 166.7% meaning 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 $0.20 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 200.0%.

Ardagh Metal Packaging Trading Up 7.9%

Shares of AMBP stock opened at $4.03 on Friday. The stock has a 50 day moving average of $3.74 and a two-hundred day moving average of $3.82. Ardagh Metal Packaging has a 12 month low of $2.50 and a 12 month high of $4.78. The company has a market capitalization of $2.41 billion, a P/E ratio of -134.17, a P/E/G ratio of 1.33 and a beta of 0.56.

Ardagh Metal Packaging (NYSE:AMBP) last posted its earnings results on Thursday, October 23rd. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. Ardagh Metal Packaging had a negative return on equity of 76.86% and a net margin of 0.13%.During the same quarter in the prior year, the firm posted $0.08 earnings per share. Ardagh Metal Packaging’s quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side analysts predict that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AMBP shares. UBS Group decreased their target price on Ardagh Metal Packaging from $4.00 to $3.75 and set a “neutral” rating for the company in a research note on Monday, October 6th. Citigroup upped their target price on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, July 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Ardagh Metal Packaging in a report on Wednesday, October 8th. Raymond James Financial initiated coverage on Ardagh Metal Packaging in a report on Wednesday, October 15th. They set a “market perform” rating on the stock. Finally, Wells Fargo & Company dropped their price objective on Ardagh Metal Packaging from $4.50 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 15th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.17.

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.