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

Ardagh Metal Packaging S.A. (NYSE:AMBP) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Thursday, December 5th will be paid a dividend of 0.10 per share on Thursday, December 19th. This represents a $0.40 annualized dividend and a yield of 10.24%. The ex-dividend date of this dividend is Thursday, December 5th.

Ardagh Metal Packaging has a payout ratio of 173.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Ardagh Metal Packaging to earn $0.22 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 181.8%.

Ardagh Metal Packaging Trading Down 6.8 %

NYSE:AMBP opened at $3.91 on Friday. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -27.89, a PEG ratio of 0.79 and a beta of 0.62. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.66 and a current ratio of 0.95. Ardagh Metal Packaging has a 1 year low of $2.64 and a 1 year high of $4.26. The business has a fifty day moving average of $3.69 and a 200-day moving average of $3.68.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Ardagh Metal Packaging had a negative net margin of 1.02% and a positive return on equity of 114.77%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the business posted $0.06 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts predict that Ardagh Metal Packaging will post 0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMBP shares. Citigroup boosted their price target on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Bank of America upgraded shares of Ardagh Metal Packaging from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $3.80 to $5.10 in a research report on Thursday, October 17th. Wells Fargo & Company upgraded Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $4.25 to $5.00 in a research report on Tuesday, October 15th. Finally, UBS Group lowered Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and cut their target price for the stock from $5.00 to $3.75 in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.08.

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.