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

Ardagh Metal Packaging S.A. (NYSE:AMBP) declared a quarterly dividend on Thursday, February 27th, RTT News reports. Shareholders of record on Thursday, March 13th will be paid a dividend of 0.10 per share on Thursday, March 27th. This represents a $0.40 dividend on an annualized basis and a yield of 14.06%. The ex-dividend date is Thursday, March 13th.

Ardagh Metal Packaging has a dividend 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. Analysts expect Ardagh Metal Packaging to earn $0.20 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 200.0%.

Ardagh Metal Packaging Trading Down 1.9 %

Shares of AMBP stock opened at $2.85 on Tuesday. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -23.71, a PEG ratio of 0.54 and a beta of 0.63. The business’s 50-day moving average price is $2.78 and its 200-day moving average price is $3.31. Ardagh Metal Packaging has a 12 month low of $2.50 and a 12 month high of $4.26.

Ardagh Metal Packaging (NYSE:AMBP) last posted its earnings results on Thursday, February 27th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. On average, sell-side analysts predict that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AMBP shares. Citigroup decreased their price objective on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company reissued an “equal weight” rating and issued a $3.35 price target (down previously from $3.60) on shares of Ardagh Metal Packaging in a research note on Thursday, January 16th. Morgan Stanley raised Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $3.60 to $3.10 in a research note on Monday, January 13th. Bank of America downgraded shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and decreased their target price for the company from $4.90 to $4.00 in a research report on Wednesday, December 11th. Finally, UBS Group dropped their price target on shares of Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have given 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 a consensus price target of $3.44.

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.