Ardagh Metal Packaging S.A. (AMBP) To Go Ex-Dividend on December 5th

Ardagh Metal Packaging S.A. (NYSE:AMBP) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Investors 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 10.78%. The ex-dividend date 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 Price Performance

Shares of NYSE:AMBP opened at $3.71 on Friday. The business has a 50 day moving average price of $3.70 and a 200 day moving average price of $3.69. The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 124.21. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -26.50, a PEG ratio of 0.79 and a beta of 0.62. Ardagh Metal Packaging has a twelve month low of $2.80 and a twelve month high of $4.26.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMBP. Bank of America raised Ardagh Metal Packaging from an “underperform” rating to a “buy” rating and increased their target price for the stock from $3.80 to $5.10 in a 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. UBS Group lowered Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $5.00 to $3.75 in a research report on Wednesday, July 17th. Finally, Citigroup raised their price target on Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.08.

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.