BMO Capital Markets upgraded shares of Ardagh Group S.A. (NYSE:ARD) from a market perform rating to an outperform rating in a research report released on Monday. They currently have $26.00 price target on the stock. The analysts noted that the move was a valuation call.
ARD has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Ardagh Group from a buy rating to a hold rating in a research note on Thursday, September 21st. Barclays PLC reiterated a hold rating and set a $23.00 price objective on shares of Ardagh Group in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada initiated coverage on shares of Ardagh Group in a research note on Monday, October 9th. They set an outperform rating and a $26.00 price objective on the stock. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $24.35.
Ardagh Group (NYSE:ARD) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the business earned $0.52 EPS. Ardagh Group’s revenue was down 1.5% compared to the same quarter last year.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be paid a dividend of $0.14 per share. The ex-dividend date is Wednesday, November 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.63%.
A number of large investors have recently modified their holdings of ARD. Cubist Systematic Strategies LLC boosted its holdings in Ardagh Group by 3,749.0% during the second quarter. Cubist Systematic Strategies LLC now owns 9,584 shares of the company’s stock worth $217,000 after buying an additional 9,335 shares in the last quarter. SG Americas Securities LLC bought a new stake in Ardagh Group during the first quarter worth approximately $239,000. Aperio Group LLC bought a new stake in Ardagh Group during the third quarter worth approximately $257,000. First Quadrant L P CA bought a new stake in Ardagh Group during the third quarter worth approximately $260,000. Finally, Wells Fargo & Company MN boosted its holdings in Ardagh Group by 1.1% during the second quarter. Wells Fargo & Company MN now owns 11,740 shares of the company’s stock worth $265,000 after buying an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 99.08% of the company’s stock.
About Ardagh Group
Ardagh Group SA, formerly Ardagh Finance Holdings SA, is a Luxembourg-based company engaged in the packing industry. The Company focuses on the design and manufacture of rigid packaging solutions mainly for food and beverage markets. Its activities are divided into two business segments: Metal packing, which supplies aluminum and steel beverage cans, two-piece aluminum, two-piece tinplate and three-piece tinplate food and specialty cans, as well as a range of can ends, among others, and Glass packing, which delivers glass containers, bottles and jars, among others.
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