Ardagh Group S.A. (ARD) Given Average Rating of “Buy” by Analysts
Ardagh Group S.A. (NYSE:ARD) has received a consensus rating of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $24.39.
A number of research firms have weighed in on ARD. Zacks Investment Research cut shares of Ardagh Group from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. BMO Capital Markets reiterated a “hold” rating and set a $26.00 price objective on shares of Ardagh Group in a research report on Wednesday, October 18th. Royal Bank Of Canada began coverage on shares of Ardagh Group in a research report on Monday, October 9th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, Barclays PLC reiterated a “hold” rating and set a $23.00 price objective on shares of Ardagh Group in a research report on Wednesday, August 2nd.
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Ardagh Group (NYSE:ARD) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter last year, the firm earned $0.52 EPS. The company’s revenue was down 1.5% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Wednesday, November 15th.
Several institutional investors and hedge funds have recently modified their holdings of the company. Canyon Capital Advisors LLC boosted its stake in shares of Ardagh Group by 29.1% during the second quarter. Canyon Capital Advisors LLC now owns 2,515,101 shares of the company’s stock valued at $56,866,000 after purchasing an additional 566,401 shares during the period. Capital Research Global Investors boosted its stake in shares of Ardagh Group by 1.8% during the second quarter. Capital Research Global Investors now owns 1,018,438 shares of the company’s stock valued at $23,027,000 after purchasing an additional 18,438 shares during the period. Schroder Investment Management Group boosted its stake in shares of Ardagh Group by 74.7% during the second quarter. Schroder Investment Management Group now owns 698,724 shares of the company’s stock valued at $15,819,000 after purchasing an additional 298,724 shares during the period. Brant Point Investment Management LLC boosted its stake in shares of Ardagh Group by 12.7% during the second quarter. Brant Point Investment Management LLC now owns 401,710 shares of the company’s stock valued at $9,083,000 after purchasing an additional 45,310 shares during the period. Finally, FMR LLC purchased a new stake in shares of Ardagh Group during the first quarter valued at $6,452,000. 99.08% of the stock is owned by hedge funds and other institutional investors.
Ardagh Group Company Profile
Ardagh Group SA, formerly Ardagh Finance Holdings SA, is a Luxembourg-based company engaged in the packing industry. The Company focuses on the design and manufacture of rigid packaging solutions mainly for food and beverage markets. Its activities are divided into two business segments: Metal packing, which supplies aluminum and steel beverage cans, two-piece aluminum, two-piece tinplate and three-piece tinplate food and specialty cans, as well as a range of can ends, among others, and Glass packing, which delivers glass containers, bottles and jars, among others.
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