Ardagh Metal Packaging (NYSE:AMBP) Releases Earnings Results, Meets Estimates

Ardagh Metal Packaging (NYSE:AMBP) released its earnings results on Tuesday. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08, Zacks reports. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.52 billion. Ardagh Metal Packaging had a negative return on equity of 27.93% and a net margin of 0.68%. Ardagh Metal Packaging’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

Ardagh Metal Packaging Stock Performance

AMBP stock traded up $0.17 on Thursday, reaching $4.76. The company’s stock had a trading volume of 439,900 shares, compared to its average volume of 1,803,265. The firm has a market cap of $2.85 billion, a PE ratio of 79.43, a PEG ratio of 0.83 and a beta of 0.50. The business has a fifty day simple moving average of $4.77 and a two-hundred day simple moving average of $4.49. Ardagh Metal Packaging has a 12-month low of $3.29 and a 12-month high of $5.47.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wells Fargo & Company lifted their price target on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ardagh Metal Packaging in a research note on Thursday, August 20th. They issued a “hold” rating and a $5.20 price objective for the company. Citigroup reaffirmed a “buy” rating on shares of Ardagh Metal Packaging in a report on Friday, July 24th. UBS Group decreased their target price on shares of Ardagh Metal Packaging from $5.00 to $4.50 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Finally, Wall Street Zen downgraded shares of Ardagh Metal Packaging from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.83.

About Ardagh Metal Packaging

Ardagh Metal Packaging SA (NYSE: AMBP) is a global manufacturer of beverage cans and related metal packaging. The company produces aluminum and steel cans, ends and other components used for beer, soft drinks, energy drinks, sparkling water, juices and other beverages. Its products are supplied to major beverage companies, regional brands and contract manufacturers.

The company operates production and design facilities across Europe, North America and South America, including Brazil. Its packaging is designed to support brand presentation, product protection and efficient distribution, while metal cans can be recycled repeatedly without losing their basic properties.

Ardagh Metal Packaging became a separately listed public company in 2021 through a business combination involving Ardagh Group’s metal packaging business and Gores Holdings V.