Ardagh Metal Packaging (AMBP) Set to Announce Quarterly Earnings on Thursday

Posted by Defense World Staff on Oct 19th, 2023

Ardagh Metal Packaging (NYSE:AMBP – Get Free Report) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, October 26th. Analysts expect Ardagh Metal Packaging to post earnings of $0.06 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Ardagh Metal Packaging (NYSE:AMBP – Get Free Report) last announced its earnings results on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Ardagh Metal Packaging had a net margin of 1.49% and a return on equity of 29.71%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. On average, analysts expect Ardagh Metal Packaging to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Ardagh Metal Packaging Stock Down 2.5 %

Shares of NYSE AMBP opened at $2.77 on Thursday. The company has a debt-to-equity ratio of 13.04, a quick ratio of 0.72 and a current ratio of 1.11. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 3.57 and a beta of 0.71. The stock has a 50 day moving average price of $3.25 and a 200 day moving average price of $3.54. Ardagh Metal Packaging has a 52-week low of $2.67 and a 52-week high of $5.90.

Ardagh Metal Packaging Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 14th were issued a $0.10 dividend. The ex-dividend date was Wednesday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 14.44%. Ardagh Metal Packaging’s payout ratio is 500.06%.

Analyst Upgrades and Downgrades

AMBP has been the subject of a number of research reports. Credit Suisse Group boosted their price target on Ardagh Metal Packaging from $6.50 to $8.00 in a report on Friday, July 7th. Citigroup lowered their price target on Ardagh Metal Packaging from $5.00 to $4.00 in a report on Tuesday, October 10th. Bank of America lowered Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $5.00 to $4.00 in a report on Monday, July 10th. Finally, Barclays lowered their target price on Ardagh Metal Packaging from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Monday, July 31st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.19.

Check Out Our Latest Analysis on AMBP

Hedge Funds Weigh In On Ardagh Metal Packaging

A number of large investors have recently made changes to their positions in the business. Wells Fargo & Company MN increased its position in shares of Ardagh Metal Packaging by 162.8% during the second quarter. Wells Fargo & Company MN now owns 12,877 shares of the company’s stock worth $48,000 after purchasing an additional 7,978 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of Ardagh Metal Packaging by 11.8% during the second quarter. Gamco Investors INC. ET AL now owns 988,583 shares of the company’s stock worth $3,717,000 after purchasing an additional 103,983 shares in the last quarter. Royal Bank of Canada increased its position in shares of Ardagh Metal Packaging by 40.7% during the second quarter. Royal Bank of Canada now owns 79,522 shares of the company’s stock worth $299,000 after purchasing an additional 22,987 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Ardagh Metal Packaging during the second quarter worth $795,000. Finally, Marshall Wace LLP increased its position in shares of Ardagh Metal Packaging by 26.5% during the second quarter. Marshall Wace LLP now owns 339,421 shares of the company’s stock worth $1,276,000 after purchasing an additional 71,165 shares in the last quarter. 17.33% of the stock is owned by institutional investors and hedge funds.

About Ardagh Metal Packaging

(Get Free Report)

Ardagh Metal Packaging SA, together with its subsidiaries, supplies 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.