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

Ardagh Metal Packaging S.A. (NYSE:AMBP) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Wednesday, June 12th will be given a dividend of 0.10 per share on Wednesday, June 26th. This represents a $0.40 dividend on an annualized basis and a yield of 9.98%. The ex-dividend date of this dividend 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. 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 Performance

AMBP stock opened at $4.01 on Friday. Ardagh Metal Packaging has a fifty-two week low of $2.57 and a fifty-two week high of $4.29. The business’s 50-day moving average is $3.47 and its two-hundred day moving average is $3.55. The company has a debt-to-equity ratio of 34.34, a current ratio of 0.99 and a quick ratio of 0.68.

Ardagh Metal Packaging (NYSE:AMBP) last posted its earnings results on Thursday, April 25th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. Ardagh Metal Packaging had a positive return on equity of 38.48% and a negative net margin of 1.04%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company earned $0.01 earnings per share. Ardagh Metal Packaging’s revenue was up .9% on a year-over-year basis. On average, research analysts forecast that Ardagh Metal Packaging will post 0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on AMBP shares. Wells Fargo & Company upped their price target on Ardagh Metal Packaging from $3.70 to $3.75 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Barclays lowered Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective for the company. in a research note on Monday, January 8th. UBS Group began coverage on Ardagh Metal Packaging in a research note on Tuesday, January 16th. They issued a “buy” rating and a $5.00 price objective for the company. Truist Financial reaffirmed a “hold” rating and issued a $3.00 price objective (down from $4.00) on shares of Ardagh Metal Packaging in a research note on Monday, February 26th. Finally, Bank of America lowered Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $4.10 to $3.50 in a research note on Monday, April 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.31.

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.