Ardagh Group (NYSE:ARD) released its quarterly earnings results on Thursday. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05, MarketWatch Earnings reports. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Ardagh Group had a negative return on equity of 30.73% and a net margin of 0.94%. Ardagh Group’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. Ardagh Group updated its FY 2019 guidance to $1.60-1.75 EPS and its FY19 guidance to $1.60 to $1.75 EPS.
NYSE:ARD opened at $12.80 on Friday. Ardagh Group has a 12 month low of $10.09 and a 12 month high of $20.53. The company has a market cap of $242.26 million, a price-to-earnings ratio of 6.96 and a beta of 1.16.
A number of equities analysts recently weighed in on ARD shares. Zacks Investment Research cut Ardagh Group from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Deutsche Bank set a $18.00 price target on Ardagh Group and gave the stock a “buy” rating in a report on Monday, October 29th. Barclays reduced their price target on Ardagh Group from $18.00 to $16.00 and set an “equal weight” rating for the company in a report on Monday, October 29th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $15.30 price target (down previously from $21.00) on shares of Ardagh Group in a report on Monday, November 12th. Finally, Citigroup cut their price objective on Ardagh Group from $18.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, January 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Ardagh Group currently has an average rating of “Hold” and a consensus target price of $16.86.
A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in Ardagh Group by 11.8% during the 4th quarter. Bank of New York Mellon Corp now owns 37,113 shares of the company’s stock worth $410,000 after buying an additional 3,915 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Ardagh Group by 50.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,933 shares of the company’s stock worth $187,000 after buying an additional 5,679 shares in the last quarter. Northern Trust Corp increased its stake in Ardagh Group by 20.9% during the 2nd quarter. Northern Trust Corp now owns 44,311 shares of the company’s stock worth $737,000 after buying an additional 7,675 shares in the last quarter. Geode Capital Management LLC increased its stake in Ardagh Group by 17.6% during the 4th quarter. Geode Capital Management LLC now owns 53,028 shares of the company’s stock worth $587,000 after buying an additional 7,935 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in Ardagh Group by 60.9% during the 4th quarter. Two Sigma Advisers LP now owns 28,000 shares of the company’s stock worth $310,000 after buying an additional 10,600 shares in the last quarter. Institutional investors own 93.04% of the company’s stock.
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Ardagh Group Company Profile
Ardagh Group SA manufactures and supplies rigid packaging solutions primarily for the food and beverage markets worldwide. The company operates in four segments: Metal Packaging Europe, Metal Packaging Americas, Glass Packaging Europe, and Glass Packaging North America. Its metal packaging products include aluminum and steel beverage cans; two-piece aluminum, two-piece tinplate, and three-piece tinplate food and specialty cans; and a range of can ends, including easy-open and peelable ends.
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