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, February 27th, RTT News reports. Shareholders 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 yield of 14.01%. The ex-dividend date is Thursday, March 13th.

Ardagh Metal Packaging has a dividend 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 research 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 Performance

AMBP opened at $2.86 on Friday. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -23.79, a P/E/G ratio of 0.54 and a beta of 0.64. The stock’s 50 day moving average price is $2.80 and its 200-day moving average price is $3.34. Ardagh Metal Packaging has a one year low of $2.50 and a one year high of $4.26.

Ardagh Metal Packaging (NYSE:AMBP) last posted its earnings results on Thursday, February 27th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. As a group, analysts predict that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup reduced their target price on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley raised shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $3.60 to $3.10 in a research note on Monday, January 13th. Wells Fargo & Company reissued an “equal weight” rating and issued a $3.35 target price (down from $3.60) on shares of Ardagh Metal Packaging in a research note on Thursday, January 16th. UBS Group decreased their target price on shares of Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, Bank of America lowered shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and reduced their price target for the company from $4.90 to $4.00 in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.