Ardagh Group S.A. (ARD) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Ardagh Group S.A. (NYSE:ARD) released its earnings results on Thursday. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07, MarketWatch Earnings reports. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2 billion. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the business posted $0.52 earnings per share.

Ardagh Group (NYSE ARD) opened at 20.63 on Friday. The company’s market capitalization is $4.88 billion. Ardagh Group has a 52-week low of $19.88 and a 52-week high of $24.54. The stock has a 50 day moving average price of $21.00 and a 200 day moving average price of $21.73.

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A hedge fund recently bought a new stake in Ardagh Group stock. Vanguard Group Inc. acquired a new stake in Ardagh Group S.A. (NYSE:ARD) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,804 shares of the company’s stock, valued at approximately $289,000. 99.03% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on ARD shares. Zacks Investment Research raised Ardagh Group from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, October 19th. Barclays PLC restated a “hold” rating and issued a $23.00 price target on shares of Ardagh Group in a research report on Wednesday, August 2nd. BMO Capital Markets restated a “hold” rating and issued a $26.00 price target on shares of Ardagh Group in a research report on Wednesday, October 18th. Finally, Royal Bank Of Canada began coverage on Ardagh Group in a research report on Monday, October 9th. They issued an “outperform” rating and a $26.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $24.45.

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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