$2.04 Billion in Sales Expected for Ardagh Group SA (ARD) This Quarter

Wall Street brokerages expect that Ardagh Group SA (NYSE:ARD) will report $2.04 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Ardagh Group’s earnings, with the highest sales estimate coming in at $2.09 billion and the lowest estimate coming in at $2.00 billion. The firm is expected to announce its next quarterly earnings report on Thursday, January 25th.

On average, analysts expect that Ardagh Group will report full-year sales of $2.04 billion for the current year, with estimates ranging from $8.78 billion to $8.87 billion. For the next fiscal year, analysts anticipate that the company will post sales of $8.87 billion per share, with estimates ranging from $8.75 billion to $8.99 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Ardagh Group.

Ardagh Group (NYSE:ARD) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2 billion. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 earnings per share.

Several research firms recently issued reports on ARD. Zacks Investment Research cut shares of Ardagh Group from a “buy” rating to a “hold” rating in a report on Friday, October 27th. BMO Capital Markets reissued a “hold” rating and set a $26.00 price target on shares of Ardagh Group in a report on Wednesday, October 18th. Finally, Royal Bank of Canada began coverage on shares of Ardagh Group in a report on Monday, October 9th. They set an “outperform” rating and a $26.00 price target for the company. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $24.35.

A number of institutional investors have recently modified their holdings of ARD. Cubist Systematic Strategies LLC increased its holdings in Ardagh Group by 3,749.0% in the second quarter. Cubist Systematic Strategies LLC now owns 9,584 shares of the company’s stock valued at $217,000 after buying an additional 9,335 shares in the last quarter. Aperio Group LLC purchased a new position in Ardagh Group in the third quarter valued at about $257,000. First Quadrant L P CA purchased a new position in Ardagh Group in the third quarter valued at about $260,000. Wells Fargo & Company MN increased its holdings in Ardagh Group by 1.1% in the second quarter. Wells Fargo & Company MN now owns 11,740 shares of the company’s stock valued at $265,000 after buying an additional 126 shares in the last quarter. Finally, Vanguard Group Inc. purchased a new position in Ardagh Group in the second quarter valued at about $289,000. 87.38% of the stock is owned by institutional investors.

Ardagh Group (NYSE ARD) traded down $0.06 during midday trading on Friday, reaching $20.02. 23,327 shares of the company traded hands, compared to its average volume of 80,131. Ardagh Group has a 52-week low of $19.55 and a 52-week high of $24.54.

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About Ardagh Group

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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