Ardagh Metal Packaging (NYSE:AMBP) Releases Earnings Results, Hits Expectations

Ardagh Metal Packaging (NYSE:AMBP) issued its earnings results on Tuesday. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08, Zacks reports. Ardagh Metal Packaging had a negative return on equity of 27.93% and a net margin of 0.68%. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the business posted $0.08 EPS. Ardagh Metal Packaging’s quarterly revenue was up 18.6% compared to the same quarter last year.

Ardagh Metal Packaging Stock Up 3.8%

Shares of Ardagh Metal Packaging stock traded up $0.17 during trading on Thursday, reaching $4.76. 273,906 shares of the stock were exchanged, compared to its average volume of 1,801,889. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 79.18, a price-to-earnings-growth ratio of 0.83 and a beta of 0.50. Ardagh Metal Packaging has a 1 year low of $3.29 and a 1 year high of $5.47. The stock’s fifty day moving average is $4.77 and its 200 day moving average is $4.49.

Wall Street Analysts Forecast Growth

AMBP has been the topic of a number of analyst reports. UBS Group decreased their price target on Ardagh Metal Packaging from $5.00 to $4.50 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Deutsche Bank Aktiengesellschaft started coverage on Ardagh Metal Packaging in a research note on Thursday, August 20th. They set a “hold” rating and a $5.20 price objective for the company. Wells Fargo & Company raised their target price on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. Citigroup restated a “buy” rating on shares of Ardagh Metal Packaging in a report on Friday, July 24th. Finally, Weiss Ratings raised shares of Ardagh Metal Packaging from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.83.

Ardagh Metal Packaging Company Profile

Ardagh Metal Packaging SA (NYSE: AMBP) is a global manufacturer of beverage cans and related metal packaging. The company produces aluminum and steel cans, ends and other components used for beer, soft drinks, energy drinks, sparkling water, juices and other beverages. Its products are supplied to major beverage companies, regional brands and contract manufacturers.

The company operates production and design facilities across Europe, North America and South America, including Brazil. Its packaging is designed to support brand presentation, product protection and efficient distribution, while metal cans can be recycled repeatedly without losing their basic properties.

Ardagh Metal Packaging became a separately listed public company in 2021 through a business combination involving Ardagh Group’s metal packaging business and Gores Holdings V.