Ardagh Group SA (NYSE:ARD) Expected to Post Quarterly Sales of $2.41 Billion

Wall Street analysts expect Ardagh Group SA (NYSE:ARD) to post $2.41 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Ardagh Group’s earnings. The highest sales estimate is $2.43 billion and the lowest is $2.39 billion. Ardagh Group reported sales of $2.39 billion during the same quarter last year, which indicates a positive year over year growth rate of 0.8%. The company is scheduled to announce its next quarterly earnings results before the market opens on Thursday, October 31st.

On average, analysts expect that Ardagh Group will report full year sales of $9.08 billion for the current financial year, with estimates ranging from $9.03 billion to $9.17 billion. For the next fiscal year, analysts forecast that the company will post sales of $9.20 billion, with estimates ranging from $9.10 billion to $9.40 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Ardagh Group.

Ardagh Group (NYSE:ARD) last posted its earnings results on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Ardagh Group had a negative net margin of 0.61% and a negative return on equity of 26.87%. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the business posted $0.51 earnings per share. The business’s quarterly revenue was down 3.4% compared to the same quarter last year.

A number of research firms recently issued reports on ARD. ValuEngine lowered shares of Ardagh Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Ardagh Group from a “sell” rating to a “hold” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. lowered shares of Ardagh Group from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $15.00 to $17.00 in a research report on Wednesday, July 17th. Finally, Citigroup raised their price target on shares of Ardagh Group from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.22.

NYSE:ARD traded up $0.31 during midday trading on Tuesday, reaching $16.19. The stock had a trading volume of 77,338 shares, compared to its average volume of 94,657. Ardagh Group has a 1-year low of $10.09 and a 1-year high of $20.00. The firm’s fifty day simple moving average is $16.68 and its 200-day simple moving average is $15.66. The stock has a market capitalization of $298.99 million, a P/E ratio of 9.58, a PEG ratio of 1.36 and a beta of 1.20.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Machina Capital S.A.S. acquired a new stake in Ardagh Group in the 2nd quarter worth $76,000. State of Alaska Department of Revenue grew its position in Ardagh Group by 21.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 27,021 shares of the company’s stock worth $423,000 after purchasing an additional 4,825 shares during the last quarter. Gabelli Funds LLC grew its position in Ardagh Group by 54.5% in the 2nd quarter. Gabelli Funds LLC now owns 15,586 shares of the company’s stock worth $273,000 after purchasing an additional 5,500 shares during the last quarter. Clearbridge Investments LLC grew its position in Ardagh Group by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 1,379,538 shares of the company’s stock worth $17,934,000 after purchasing an additional 6,820 shares during the last quarter. Finally, Calamos Advisors LLC acquired a new stake in Ardagh Group in the 2nd quarter worth $201,000. Institutional investors own 85.38% of the company’s stock.

Ardagh Group Company Profile

Ardagh Group SA manufactures and supplies rigid packaging solutions primarily for the food and beverage markets worldwide. The company operates in four segments: Metal Packaging Europe, Metal Packaging Americas, Glass Packaging Europe, and Glass Packaging North America. Its metal packaging products include aluminum and steel beverage cans; two-piece aluminum, two-piece tinplate, and three-piece tinplate food and specialty cans; and a range of can ends, including easy-open and peelable ends.

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