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

Key Points

• Ardagh Metal Packaging reported an earnings per share (EPS) of $0.08 for the quarter, beating estimates by $0.01 and achieving a 15.6% increase in revenue year-over-year.
• The company will pay a quarterly dividend of $0.10 on August 19th, equating to an annualized dividend yield of 10.60%.
• A hedge fund raised its stake in Ardagh Metal Packaging by 697.8%, indicating increased institutional interest in the company.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) issued its quarterly earnings data on Thursday. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01, Zacks reports. Ardagh Metal Packaging had a negative return on equity of 98.66% and a net margin of 0.13%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the company posted $0.06 earnings per share. Ardagh Metal Packaging's revenue was up 15.6% compared to the same quarter last year.

Ardagh Metal Packaging Price Performance

Shares of AMBP stock traded down $0.11 on Friday, hitting $3.78. 2,186,974 shares of the stock traded hands, compared to its average volume of 1,612,755. Ardagh Metal Packaging has a 52 week low of $2.50 and a 52 week high of $4.78. The firm has a 50 day simple moving average of $4.22 and a two-hundred day simple moving average of $3.39. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -125.83, a PEG ratio of 0.93 and a beta of 0.56.

Ardagh Metal Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Thursday, August 7th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.60%. Ardagh Metal Packaging's dividend payout ratio (DPR) is presently -1,333.33%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ardagh Metal Packaging stock. AQR Capital Management LLC raised its stake in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 697.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,625 shares of the company's stock after buying an additional 277,813 shares during the quarter. AQR Capital Management LLC owned about 0.05% of Ardagh Metal Packaging worth $959,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 16.93% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. UBS Group boosted their price target on Ardagh Metal Packaging from $3.40 to $4.50 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Wells Fargo & Company boosted their target price on shares of Ardagh Metal Packaging from $3.45 to $5.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Citigroup upped their target price on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Finally, Morgan Stanley lifted their price target on shares of Ardagh Metal Packaging from $3.50 to $4.10 and gave the stock an "equal weight" rating in a research note on Wednesday, June 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $4.52.

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.

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