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

Ardagh Metal Packaging S.A. (NYSE:AMBP) announced a quarterly dividend on Thursday, October 24th,Zacks Dividends reports. Investors of record on Thursday, December 5th will be paid a dividend of 0.10 per share on Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a yield of 10.61%. The ex-dividend date is Thursday, December 5th.

Ardagh Metal Packaging has a payout ratio of 173.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Ardagh Metal Packaging to earn $0.21 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 190.5%.

Ardagh Metal Packaging Stock Up 2.4 %

Shares of NYSE:AMBP opened at $3.77 on Tuesday. The business has a 50-day moving average price of $3.77 and a 200 day moving average price of $3.67. Ardagh Metal Packaging has a 12-month low of $3.16 and a 12-month high of $4.26. The company has a debt-to-equity ratio of 124.21, a current ratio of 1.17 and a quick ratio of 0.88.

Ardagh Metal Packaging (NYSE:AMBP) last released its earnings results on Thursday, October 24th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. Ardagh Metal Packaging’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company earned $0.06 EPS. As a group, analysts expect that Ardagh Metal Packaging will post 0.16 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on AMBP. Bank of America upgraded Ardagh Metal Packaging from an “underperform” rating to a “buy” rating and upped their price objective for the company from $3.80 to $5.10 in a research note on Thursday, October 17th. Wells Fargo & Company upgraded Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $4.25 to $5.00 in a research note on Tuesday, October 15th. Finally, Citigroup boosted their price objective on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Ardagh Metal Packaging has an average rating of “Hold” and an average target price of $4.08.

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.