Ardagh Metal Packaging S.A. (AMBP) To Go Ex-Dividend on June 12th

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 given 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 9.88%. The ex-dividend date of this dividend is Wednesday, June 12th.

Ardagh Metal Packaging has a dividend payout ratio of 166.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Price Performance

NYSE:AMBP opened at $4.05 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 34.34. Ardagh Metal Packaging has a 52-week low of $2.57 and a 52-week high of $4.29. The business’s 50-day moving average price is $3.48 and its 200 day moving average price is $3.56.

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, meeting analysts’ consensus estimates of $0.01. Ardagh Metal Packaging had a positive return on equity of 43.89% and a negative net margin of 1.26%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company posted $0.01 EPS. Ardagh Metal Packaging’s revenue for the quarter was up .9% on a year-over-year basis. As a group, sell-side analysts predict that Ardagh Metal Packaging will post 0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Ardagh Metal Packaging from $3.70 to $3.75 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. UBS Group assumed coverage on Ardagh Metal Packaging in a research report on Tuesday, January 16th. They issued a “buy” rating and a $5.00 price target for the company. Truist Financial reiterated 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. Morgan Stanley started coverage on Ardagh Metal Packaging in a research report on Monday, March 18th. They set an “underweight” rating and a $3.20 price objective for the company. Finally, Bank of America lowered Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $4.10 to $3.50 in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.31.

About Ardagh Metal Packaging

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.