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

Ardagh Metal Packaging S.A. (NYSE:AMBP) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Wednesday, June 12th will be paid a dividend of 0.10 per share on Wednesday, June 26th. This represents a $0.40 dividend on an annualized basis and a yield of 9.98%. The ex-dividend date is Wednesday, June 12th.

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 $0.23 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 173.9%.

Ardagh Metal Packaging Trading Up 7.5 %

NYSE:AMBP opened at $4.01 on Friday. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -33.42, a PEG ratio of 0.75 and a beta of 0.75. The firm has a fifty day simple moving average of $3.47 and a two-hundred day simple moving average of $3.55. Ardagh Metal Packaging has a 12 month low of $2.57 and a 12 month high of $4.29. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 34.34.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Ardagh Metal Packaging had a negative net margin of 1.04% and a positive return on equity of 38.48%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the company earned $0.01 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts expect that Ardagh Metal Packaging will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on AMBP. 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 reissued a “hold” rating and issued a $3.00 price target (down previously from $4.00) on shares of Ardagh Metal Packaging in a research report on Monday, February 26th. Bank of America lowered shares of Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $4.10 to $3.50 in a research report on Monday, April 1st. Barclays lowered 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 research report on Monday, January 8th. Finally, UBS Group started coverage on shares of Ardagh Metal Packaging in a research report on Tuesday, January 16th. They issued a “buy” rating and a $5.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.31.

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.