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

Ardagh Metal Packaging S.A. (NYSE:AMBP) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Wednesday, June 12th will be paid a dividend of 0.10 per share on Wednesday, June 26th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.19%. The ex-dividend date is Wednesday, June 12th.

Ardagh Metal Packaging has a payout ratio of 166.7% 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 $0.23 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 Stock Up 0.6 %

Shares of NYSE AMBP opened at $3.93 on Tuesday. The company’s 50 day simple moving average is $3.81 and its 200 day simple moving average is $3.72. Ardagh Metal Packaging has a fifty-two week low of $2.57 and a fifty-two week high of $4.17. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.61 and a current ratio of 0.95.

Ardagh Metal Packaging (NYSE:AMBP) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Ardagh Metal Packaging had a negative net margin of 1.26% and a positive return on equity of 55.91%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business posted $0.01 earnings per share. Ardagh Metal Packaging’s revenue was up .9% compared to the same quarter last year. On average, research analysts anticipate that Ardagh Metal Packaging will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AMBP has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Ardagh Metal Packaging from $3.70 to $3.75 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Truist Financial reissued a “hold” rating and set a $3.00 price objective (down previously from $4.00) on shares of Ardagh Metal Packaging in a research report on Monday, February 26th. Morgan Stanley started coverage on shares of 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 downgraded shares of Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $4.10 to $3.50 in a research report on Monday, April 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Ardagh Metal Packaging presently has a consensus rating of “Hold” and a consensus price target of $4.31.

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.