Ardagh Group S.A. (ARD) Reaches New 12-Month Low at $19.75
Ardagh Group S.A. (NYSE:ARD)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $19.75 and last traded at $19.93, with a volume of 33900 shares trading hands. The stock had previously closed at $20.06.
Several equities analysts recently issued reports on ARD shares. Zacks Investment Research cut shares of Ardagh Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 21st. Royal Bank Of Canada set a $25.00 price target on shares of Ardagh Group and gave the company a “buy” rating in a research report on Monday, October 30th. BMO Capital Markets upgraded shares of Ardagh Group from a “market perform” rating to an “outperform” rating and set a $26.00 price target on the stock in a research report on Monday, October 30th. They noted that the move was a valuation call. Finally, Barclays PLC reiterated a “hold” rating and set a $23.00 price target on shares of Ardagh Group in a research report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $24.35.
Ardagh Group (NYSE:ARD) last issued its 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 during the quarter, compared to the consensus estimate of $2 billion. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 EPS. sell-side analysts predict that Ardagh Group S.A. will post 0.95 EPS for the current fiscal year.
The company 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 $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.56 annualized dividend and a dividend yield of 2.81%.
Several hedge funds and other institutional investors have recently modified their holdings of ARD. Canyon Capital Advisors LLC lifted its stake in shares of Ardagh Group by 29.1% in the second quarter. Canyon Capital Advisors LLC now owns 2,515,101 shares of the company’s stock worth $56,866,000 after buying an additional 566,401 shares in the last quarter. Schroder Investment Management Group lifted its position in 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. FMR LLC bought a new position in Ardagh Group during the first quarter valued at approximately $6,452,000. Janus Capital Management LLC bought a new position in Ardagh Group during the first quarter valued at approximately $3,653,000. Finally, Janus Henderson Group PLC bought a new position in Ardagh Group during the second quarter valued at approximately $3,761,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.
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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