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

Key Points

• Ardagh Metal Packaging S.A. announced a quarterly dividend of $0.10 per share, which will be paid on November 13th to shareholders of record as of November 3rd, reflecting a yield of 9.9%.
• The company's payout ratio is at 166.7%, indicating that it is currently unable to cover its dividend with earnings, and analysts forecast a further increase to a 200% payout ratio next year.
• Ardagh's stock price rose 7.9% to $4.03, with an average rating of "Hold" from analysts and a consensus target price of $4.17.

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

Ardagh Metal Packaging has a 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. Equities 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%

NYSE AMBP traded up $0.30 on Thursday, hitting $4.03. The company's stock had a trading volume of 3,194,189 shares, compared to its average volume of 1,680,705. Ardagh Metal Packaging has a 52-week low of $2.50 and a 52-week high of $4.78. The firm has a market cap of $2.41 billion, a P/E ratio of -134.17, a PEG ratio of 1.34 and a beta of 0.56. The company's 50-day simple moving average is $3.73 and its 200 day simple moving average is $3.81.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last announced its earnings results on Thursday, October 23rd. The company reported $0.08 earnings per share (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 period last year, the company posted $0.08 earnings per share. Ardagh Metal Packaging's quarterly revenue was up 8.8% compared to the same quarter last year. On average, research analysts forecast that Ardagh Metal Packaging will post 0.16 EPS for the current fiscal year.

Analyst Ratings Changes

AMBP has been the subject of several research reports. Wells Fargo & Company decreased their target price on Ardagh Metal Packaging from $4.50 to $4.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 15th. Citigroup increased their target price on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Raymond James Financial initiated coverage on Ardagh Metal Packaging in a research report on Wednesday, October 15th. They set a "market perform" rating for the company. UBS Group reduced their price objective on Ardagh Metal Packaging from $4.00 to $3.75 and set a "neutral" rating for the company in a research report on Monday, October 6th. Finally, Morgan Stanley raised their price objective on Ardagh Metal Packaging from $3.50 to $4.10 and gave the company an "equal weight" rating in a research report on Wednesday, June 25th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target 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.

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