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

by · The Cerbat Gem

Ardagh Metal Packaging (NYSE:AMBP – Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01, Briefing.com reports. Ardagh Metal Packaging had a negative net margin of 1.02% and a positive return on equity of 114.77%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the company earned $0.06 EPS. Ardagh Metal Packaging’s revenue was up 1.5% compared to the same quarter last year.

Ardagh Metal Packaging Trading Down 4.8 %

AMBP traded down $0.20 on Thursday, hitting $3.99. The company had a trading volume of 633,571 shares, compared to its average volume of 1,336,763. The company’s fifty day moving average price is $3.68 and its 200 day moving average price is $3.68. Ardagh Metal Packaging has a 1 year low of $2.64 and a 1 year high of $4.26. The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 124.21. The firm has a market cap of $2.38 billion, a P/E ratio of -28.00, a PEG ratio of 0.79 and a beta of 0.62.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMBP. Citigroup boosted their target price on Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Company upgraded Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $4.25 to $5.00 in a report on Tuesday, October 15th. UBS Group cut shares of Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and lowered their price target for the company from $5.00 to $3.75 in a research report on Wednesday, July 17th. Finally, Bank of America upgraded shares of Ardagh Metal Packaging from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $3.80 to $5.10 in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.08.

Read Our Latest Research Report on AMBP

About Ardagh Metal Packaging

(Get Free Report)

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.

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