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

Ardagh Metal Packaging S.A. (NYSE:AMBP) declared a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 12.67%.

Ardagh Metal Packaging has a dividend payout ratio of 153.8% indicating that 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 $0.20 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 Up 8.5 %

AMBP opened at $3.16 on Friday. The stock’s fifty day simple moving average is $2.80 and its 200 day simple moving average is $3.34. Ardagh Metal Packaging has a 1-year low of $2.50 and a 1-year high of $4.26. The stock has a market cap of $1.89 billion, a PE ratio of -26.31, a price-to-earnings-growth ratio of 0.54 and a beta of 0.64.

Ardagh Metal Packaging (NYSE:AMBP) last announced 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. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. Equities analysts forecast that Ardagh Metal Packaging will post 0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

AMBP has been the topic of several research reports. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $3.35 target price (down previously from $3.60) on shares of Ardagh Metal Packaging in a research report on Thursday, January 16th. Citigroup decreased their price objective on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Bank of America cut Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $4.90 to $4.00 in a research report on Wednesday, December 11th. Morgan Stanley raised shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $3.60 to $3.10 in a research report on Monday, January 13th. Finally, UBS Group lowered 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 research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.44.

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.