Ardagh Metal Packaging (NYSE:AMBP) Posts Earnings Results, Hits Expectations

Ardagh Metal Packaging (NYSE:AMBP) issued its earnings results on Tuesday. The company reported $0.08 EPS for the quarter, hitting the consensus estimate 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%. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS.

Ardagh Metal Packaging Stock Performance

Shares of Ardagh Metal Packaging stock opened at $4.72 on Thursday. The firm has a 50-day moving average of $4.77 and a 200-day moving average of $4.49. Ardagh Metal Packaging has a 52-week low of $3.29 and a 52-week high of $5.47. The stock has a market cap of $2.82 billion, a PE ratio of 77.88, a PEG ratio of 0.83 and a beta of 0.50.

Wall Street Analysts Forecast Growth

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