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

Ardagh Metal Packaging S.A. (NYSE:AMBP) announced a quarterly dividend on Thursday, July 25th, Zacks reports. Stockholders of record on Thursday, September 12th will be given a dividend of 0.10 per share on Thursday, September 26th. This represents a $0.40 annualized dividend and a dividend yield of 10.91%. The ex-dividend date of this dividend is Thursday, September 12th.

Ardagh Metal Packaging has a payout ratio of 160.0% meaning 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 $0.28 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 142.9%.

Ardagh Metal Packaging Trading Down 2.3 %

Shares of AMBP stock opened at $3.67 on Friday. The company has a market capitalization of $2.19 billion, a P/E ratio of -26.18, a P/E/G ratio of 0.52 and a beta of 0.62. Ardagh Metal Packaging has a 12-month low of $2.57 and a 12-month high of $4.17. The company has a quick ratio of 0.61, a current ratio of 0.95 and a debt-to-equity ratio of 124.21. The firm has a 50-day moving average price of $3.70 and a 200 day moving average price of $3.65.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.32 billion. Ardagh Metal Packaging had a positive return on equity of 55.91% and a negative net margin of 1.26%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. Research analysts forecast that Ardagh Metal Packaging will post 0.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on AMBP shares. UBS Group cut Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $5.00 to $3.75 in a report on Wednesday, July 17th. Bank of America lowered shares of Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $4.10 to $3.50 in a report on Monday, April 1st. Wells Fargo & Company dropped their target price on shares of Ardagh Metal Packaging from $4.10 to $3.95 and set an “equal weight” rating for the company in a research note on Wednesday, July 17th. Finally, Citigroup decreased their price target on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.63.

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.