Ardagh Metal Packaging (NYSE:AMBP) Issues Earnings Results

Ardagh Metal Packaging (NYSE:AMBP) announced its quarterly earnings data on Thursday. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01, Zacks reports. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%.

Ardagh Metal Packaging Price Performance

AMBP traded up $0.25 during trading hours on Thursday, reaching $3.16. 5,874,272 shares of the stock traded hands, compared to its average volume of 1,409,552. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -26.31, a PEG ratio of 0.54 and a beta of 0.64. Ardagh Metal Packaging has a fifty-two week low of $2.50 and a fifty-two week high of $4.26. The firm’s fifty day simple moving average is $2.80 and its two-hundred day simple moving average is $3.34.

Ardagh Metal Packaging Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 12.67%. Ardagh Metal Packaging’s payout ratio is -333.33%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMBP shares. Morgan Stanley raised shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $3.60 to $3.10 in a research report on Monday, January 13th. Wells Fargo & Company reissued an “equal weight” rating and set a $3.35 price objective (down previously from $3.60) on shares of Ardagh Metal Packaging in a research note on Thursday, January 16th. Citigroup cut their price target on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Bank of America downgraded shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and cut their price target for the stock from $4.90 to $4.00 in a research note on Wednesday, December 11th. Finally, UBS Group cut their price target on shares of Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.