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

Ardagh Metal Packaging (NYSE:AMBP) announced its quarterly earnings results on Thursday. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01, Briefing.com reports. Ardagh Metal Packaging had a negative net margin of 1.02% and a positive return on equity of 114.77%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the firm posted $0.06 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year.

Ardagh Metal Packaging Price Performance

Ardagh Metal Packaging stock traded down $0.27 during midday trading on Thursday, reaching $3.92. 156,560 shares of the company were exchanged, compared to its average volume of 1,334,448. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -29.93, a P/E/G ratio of 0.79 and a beta of 0.62. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.66 and a current ratio of 0.95. The firm’s 50-day simple moving average is $3.68 and its 200-day simple moving average is $3.68. Ardagh Metal Packaging has a 1 year low of $2.64 and a 1 year high of $4.26.

Wall Street Analyst Weigh In

AMBP has been the topic of several research analyst reports. Wells Fargo & Company raised Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $4.25 to $5.00 in a report on Tuesday, October 15th. UBS Group lowered shares of Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and decreased their price target for the company from $5.00 to $3.75 in a research note on Wednesday, July 17th. Bank of America raised Ardagh Metal Packaging from an “underperform” rating to a “buy” rating and increased their target price for the company from $3.80 to $5.10 in a report on Thursday, October 17th. Finally, Citigroup lifted their price target on Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Ardagh Metal Packaging currently has an average rating of “Hold” and an average price target of $4.08.

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.