Ardagh Metal Packaging S.A. to Issue Quarterly Dividend of $0.10 (NYSE:AMBP)

Ardagh Metal Packaging S.A. (NYSE:AMBP - Get Free Report) announced a quarterly dividend on Thursday, July 24th, RTT News reports. Investors of record on Thursday, August 7th will be given a dividend of 0.10 per share on Tuesday, August 19th. This represents a $0.40 annualized dividend and a yield of 9.96%. The ex-dividend date is Thursday, August 7th.

Ardagh Metal Packaging has a payout ratio of 166.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 6.8%

NYSE AMBP traded up $0.26 during midday trading on Monday, hitting $4.02. The company had a trading volume of 3,046,391 shares, compared to its average volume of 1,861,233. The company has a market capitalization of $2.40 billion, a PE ratio of -133.50, a P/E/G ratio of 0.97 and a beta of 0.56. The firm has a 50-day moving average price of $4.22 and a 200-day moving average price of $3.40. Ardagh Metal Packaging has a twelve month low of $2.50 and a twelve month high of $4.78.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.33 billion. Ardagh Metal Packaging had a negative return on equity of 76.86% and a net margin of 0.13%. The company's quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 EPS. On average, equities analysts anticipate that Ardagh Metal Packaging will post 0.16 EPS for the current year.

Wall Street Analyst Weigh In

AMBP has been the subject of several analyst reports. UBS Group lifted their price objective on Ardagh Metal Packaging from $3.40 to $4.50 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Wells Fargo & Company set a $4.50 price objective on Ardagh Metal Packaging and gave the company an "equal weight" rating in a report on Monday. Morgan Stanley lifted their price objective on Ardagh Metal Packaging from $3.50 to $4.10 and gave the company an "equal weight" rating in a report on Wednesday, June 25th. Finally, Citigroup lifted their price objective on Ardagh Metal Packaging from $4.00 to $5.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Ardagh Metal Packaging presently has a consensus rating of "Hold" and a consensus price target of $4.42.

Institutional Investors Weigh In On Ardagh Metal Packaging

An institutional investor recently raised its position in Ardagh Metal Packaging stock. AQR Capital Management LLC increased its position in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 697.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 317,625 shares of the company's stock after acquiring an additional 277,813 shares during the period. AQR Capital Management LLC owned about 0.05% of Ardagh Metal Packaging worth $959,000 at the end of the most recent reporting period. 16.93% of the stock is owned by hedge funds and other institutional investors.

Ardagh Metal Packaging Company Profile

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.