Ardagh Metal Packaging (NYSE:AMBP) Posts Earnings Results, Meets Expectations

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01, Briefing.com reports. Ardagh Metal Packaging had a negative net margin of 1.04% and a positive return on equity of 38.48%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm posted $0.01 earnings per share. The company's revenue for the quarter was up .9% on a year-over-year basis.

Ardagh Metal Packaging Price Performance

NYSE AMBP traded up $0.04 on Friday, reaching $4.05. 2,734,834 shares of the company's stock traded hands, compared to its average volume of 1,235,018. Ardagh Metal Packaging has a 12 month low of $2.57 and a 12 month high of $4.29. The company has a debt-to-equity ratio of 34.34, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a 50-day simple moving average of $3.47 and a 200 day simple moving average of $3.55. The stock has a market cap of $2.42 billion, a PE ratio of -34.00, a P/E/G ratio of 0.75 and a beta of 0.75.

Ardagh Metal Packaging Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 9.88%. The ex-dividend date is Wednesday, June 12th. Ardagh Metal Packaging's payout ratio is currently -333.33%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMBP. UBS Group began coverage on shares of Ardagh Metal Packaging in a report on Tuesday, January 16th. They issued a "buy" rating and a $5.00 price target on the stock. Barclays downgraded shares of Ardagh Metal Packaging from an "overweight" rating to an "equal weight" rating and set a $4.00 price target on the stock. in a report on Monday, January 8th. Morgan Stanley began coverage on shares of Ardagh Metal Packaging in a research report on Monday, March 18th. They issued an "underweight" rating and a $3.20 price objective on the stock. Truist Financial restated a "hold" rating and issued a $3.00 price objective (down from $4.00) on shares of Ardagh Metal Packaging in a research report on Monday, February 26th. Finally, Wells Fargo & Company upped their price objective on shares of Ardagh Metal Packaging from $3.70 to $3.75 and gave the stock an "equal weight" rating in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Ardagh Metal Packaging has a consensus rating of "Hold" and a consensus price target of $4.31.

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.