Ardagh Metal Packaging (NYSE:AMBP) Issues Earnings Results, Beats Expectations By $0.01 EPS

Ardagh Metal Packaging (NYSE:AMBP) issued its earnings results on Thursday. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01, Briefing.com reports. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.34 billion. Ardagh Metal Packaging had a negative net margin of 1.02% and a positive return on equity of 114.77%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $0.06 earnings per share.

Ardagh Metal Packaging Trading Down 6.4 %

Ardagh Metal Packaging stock traded down $0.27 during midday trading on Thursday, reaching $3.92. The stock had a trading volume of 156,560 shares, compared to its average volume of 1,334,448. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of -29.93, a price-to-earnings-growth ratio of 0.79 and a beta of 0.62. The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 124.21. Ardagh Metal Packaging has a 52-week low of $2.64 and a 52-week high of $4.26. The company has a fifty day moving average of $3.68 and a 200 day moving average of $3.68.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMBP. Wells Fargo & Company raised Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $4.25 to $5.00 in a research report on Tuesday, October 15th. UBS Group downgraded Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and cut their price target for the company from $5.00 to $3.75 in a research note on Wednesday, July 17th. Citigroup raised 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. Finally, Bank of America upgraded shares of Ardagh Metal Packaging from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $3.80 to $5.10 in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Ardagh Metal Packaging presently has a consensus rating of “Hold” and an average price target of $4.08.

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.