Zacks: Brokerages Expect Ardagh Group SA (ARD) Will Announce Earnings of $0.31 Per Share

Brokerages expect that Ardagh Group SA (NYSE:ARD) will announce earnings per share (EPS) of $0.31 for the current quarter, according to Zacks. Three analysts have made estimates for Ardagh Group’s earnings, with the lowest EPS estimate coming in at $0.29 and the highest estimate coming in at $0.32. Ardagh Group posted earnings of $0.33 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 6.1%. The firm is scheduled to issue its next earnings report before the market opens on Friday, April 26th.

According to Zacks, analysts expect that Ardagh Group will report full year earnings of $1.67 per share for the current financial year, with EPS estimates ranging from $1.66 to $1.68. For the next year, analysts expect that the company will report earnings of $1.76 per share, with EPS estimates ranging from $1.74 to $1.78. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Ardagh Group.

Ardagh Group (NYSE:ARD) last issued its earnings results on Thursday, February 21st. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. Ardagh Group had a negative net margin of 1.03% and a negative return on equity of 28.97%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business earned $0.36 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis.

Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Ardagh Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 26th. Citigroup dropped their price target 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $16.86.

Shares of Ardagh Group stock traded up $0.05 on Friday, hitting $13.89. The stock had a trading volume of 56,189 shares, compared to its average volume of 77,591. Ardagh Group has a one year low of $10.09 and a one year high of $20.53. The stock has a market capitalization of $258.84 million, a price-to-earnings ratio of 8.22, a P/E/G ratio of 1.19 and a beta of 1.21.

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new stake in Ardagh Group in the third quarter worth $1,525,000. Credit Suisse AG purchased a new stake in Ardagh Group in the third quarter worth $2,572,000. Private Management Group Inc. lifted its stake in Ardagh Group by 216.8% in the fourth quarter. Private Management Group Inc. now owns 1,342,603 shares of the company’s stock worth $14,876,000 after acquiring an additional 918,784 shares during the period. Mackenzie Financial Corp lifted its position in Ardagh Group by 9.1% during the third quarter. Mackenzie Financial Corp now owns 275,345 shares of the company’s stock valued at $4,596,000 after buying an additional 23,000 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Ardagh Group by 50.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,933 shares of the company’s stock valued at $187,000 after buying an additional 5,679 shares during the period. 87.11% of the stock is owned by institutional investors.

About Ardagh Group

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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