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. Investors of record on Thursday, September 12th will be paid a dividend of 0.10 per share on Thursday, September 26th. This represents a $0.40 dividend on an annualized basis 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% 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 $0.28 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 Stock Down 2.3 %

Ardagh Metal Packaging stock opened at $3.67 on Friday. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.61 and a current ratio of 0.95. The business has a 50-day simple moving average of $3.70 and a 200 day simple moving average of $3.65. Ardagh Metal Packaging has a 52 week low of $2.57 and a 52 week high of $4.17.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 EPS. As a group, sell-side analysts predict that Ardagh Metal Packaging will post 0.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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