Ardagh Group SA (ARD) Expected to Post Quarterly Sales of $2.33 Billion

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Wall Street brokerages expect that Ardagh Group SA (NYSE:ARD) will report sales of $2.33 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Ardagh Group’s earnings, with the lowest sales estimate coming in at $2.30 billion and the highest estimate coming in at $2.35 billion. Ardagh Group posted sales of $2.34 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 0.4%. The company is expected to issue its next quarterly earnings report before the market opens on Thursday, October 25th.

On average, analysts expect that Ardagh Group will report full-year sales of $9.01 billion for the current fiscal year, with estimates ranging from $8.99 billion to $9.03 billion. For the next year, analysts forecast that the company will post sales of $9.05 billion, with estimates ranging from $9.00 billion to $9.15 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Ardagh Group.

Ardagh Group (NYSE:ARD) last announced its quarterly earnings data on Thursday, July 26th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). Ardagh Group had a net margin of 1.56% and a negative return on equity of 31.32%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year.

A number of equities research analysts recently weighed in on ARD shares. Barclays decreased their price objective on shares of Ardagh Group from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, June 27th. Citigroup cut their target price on shares of Ardagh Group from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, July 10th. Zacks Investment Research downgraded shares of Ardagh Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Finally, Royal Bank of Canada set a $22.00 target price on shares of Ardagh Group and gave the company a “buy” rating in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $22.00.

A number of hedge funds and other institutional investors have recently bought and sold shares of ARD. Citadel Advisors LLC grew its position in shares of Ardagh Group by 40.9% in the 2nd quarter. Citadel Advisors LLC now owns 824,516 shares of the company’s stock worth $13,703,000 after buying an additional 239,224 shares during the last quarter. Canyon Capital Advisors LLC grew its position in shares of Ardagh Group by 0.4% in the 2nd quarter. Canyon Capital Advisors LLC now owns 2,658,756 shares of the company’s stock worth $44,189,000 after buying an additional 9,500 shares during the last quarter. Private Management Group Inc. purchased a new position in shares of Ardagh Group in the 2nd quarter worth approximately $2,118,000. BlackRock Inc. grew its position in shares of Ardagh Group by 16.0% in the 1st quarter. BlackRock Inc. now owns 373,068 shares of the company’s stock worth $6,969,000 after buying an additional 51,489 shares during the last quarter. Finally, Citigroup Inc. grew its position in shares of Ardagh Group by 46.5% in the 1st quarter. Citigroup Inc. now owns 70,898 shares of the company’s stock worth $1,325,000 after buying an additional 22,499 shares during the last quarter. 88.60% of the stock is currently owned by institutional investors and hedge funds.

ARD traded up $0.21 on Wednesday, reaching $16.93. 107,295 shares of the company traded hands, compared to its average volume of 91,269. Ardagh Group has a one year low of $14.77 and a one year high of $22.33. The firm has a market capitalization of $311.02 million, a price-to-earnings ratio of 9.20 and a beta of -0.31. The company has a debt-to-equity ratio of -6.41, a current ratio of 1.45 and a quick ratio of 0.91.

Ardagh Group Company Profile

Ardagh Group SA manufactures and supplies rigid packaging solutions primarily for the food and beverage markets worldwide. The company operates in four segments: Metal Packaging Europe, Metal Packaging Americas, Glass Packaging Europe, and Glass Packaging North America. Its metal packaging products include aluminum and steel beverage cans; two-piece aluminum, two-piece tinplate, and three-piece tinplate food and specialty cans; and a range of can ends, including easy-open and peelable ends.

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