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

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) issued its earnings results on Thursday. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the firm earned $0.06 EPS. The company's revenue for the quarter was up 1.5% compared to the same quarter last year.

Ardagh Metal Packaging Stock Down 6.8 %

NYSE:AMBP traded down $0.29 during midday trading on Thursday, reaching $3.91. 2,148,307 shares of the stock traded hands, compared to its average volume of 1,344,117. The stock has a market capitalization of $2.33 billion, a PE ratio of -27.79, a price-to-earnings-growth ratio of 0.79 and a beta of 0.62. Ardagh Metal Packaging has a 12-month low of $2.64 and a 12-month high of $4.26. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.66 and a current ratio of 0.95. The business has a 50-day moving average of $3.68 and a two-hundred day moving average of $3.68.

Analysts Set New Price Targets

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

Ardagh Metal Packaging Company Profile

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.