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

Ardagh Metal Packaging S.A. (NYSE:AMBP) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders of record on Thursday, March 13th will be paid a dividend of 0.10 per share on Thursday, March 27th. This represents a $0.40 annualized dividend and a dividend yield of 12.67%.

Ardagh Metal Packaging has a payout ratio of 153.8% 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 $0.20 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 200.0%.

Ardagh Metal Packaging Stock Up 8.5 %

NYSE:AMBP opened at $3.16 on Friday. The firm has a 50-day moving average price of $2.80 and a 200 day moving average price of $3.34. The firm has a market capitalization of $1.89 billion, a PE ratio of -26.31, a price-to-earnings-growth ratio of 0.54 and a beta of 0.64. Ardagh Metal Packaging has a 12-month low of $2.50 and a 12-month high of $4.26.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%. On average, research analysts expect that Ardagh Metal Packaging will post 0.16 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AMBP shares. Bank of America lowered shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $4.90 to $4.00 in a research report on Wednesday, December 11th. Morgan Stanley raised Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $3.60 to $3.10 in a report on Monday, January 13th. Citigroup decreased 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, January 6th. Wells Fargo & Company restated an “equal weight” rating and set a $3.35 target price (down previously from $3.60) on shares of Ardagh Metal Packaging in a research report on Thursday, January 16th. Finally, UBS Group lowered their price target on shares of Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating for the company in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.44.

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.