Ardagh Metal Packaging (NYSE:AMBP) Trading 2% Higher – Here’s What Happened

Ardagh Metal Packaging S.A. (NYSE:AMBP) was up 2% on Friday . The stock traded as high as $3.05 and last traded at $3.04. Approximately 401,941 shares were traded during trading, a decline of 70% from the average daily volume of 1,358,577 shares. The stock had previously closed at $2.98.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMBP. Bank of America lowered Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and cut their price target for the company from $4.90 to $4.00 in a report on Wednesday, December 11th. Citigroup boosted their price objective on Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company upgraded shares of Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $4.25 to $5.00 in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.92.

Ardagh Metal Packaging Price Performance

The firm has a 50-day moving average of $3.55 and a 200-day moving average of $3.57. The stock has a market cap of $1.80 billion, a PE ratio of -25.16, a PEG ratio of 0.78 and a beta of 0.61. The company has a debt-to-equity ratio of 124.21, a current ratio of 1.17 and a quick ratio of 0.88.

Ardagh Metal Packaging (NYSE:AMBP) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the firm posted $0.06 EPS. The company’s revenue was up 1.5% on a year-over-year basis. Research analysts predict that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a $0.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a yield of 13.25%. Ardagh Metal Packaging’s dividend payout ratio is currently -333.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citigroup Inc. lifted its position in shares of Ardagh Metal Packaging by 15,834.1% in the third quarter. Citigroup Inc. now owns 5,104,806 shares of the company’s stock worth $19,245,000 after buying an additional 5,072,769 shares in the last quarter. King Street Capital Management L.P. bought a new stake in Ardagh Metal Packaging in the 2nd quarter worth approximately $14,790,000. Squarepoint Ops LLC raised its holdings in shares of Ardagh Metal Packaging by 523.8% during the 2nd quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company’s stock worth $10,568,000 after acquiring an additional 2,446,997 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Ardagh Metal Packaging by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,784,882 shares of the company’s stock valued at $6,729,000 after acquiring an additional 11,963 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Ardagh Metal Packaging by 37.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,778,166 shares of the company’s stock valued at $6,704,000 after acquiring an additional 489,146 shares during the last quarter. Institutional investors own 16.93% of the company’s stock.

About Ardagh Metal Packaging

Ardagh Metal Packaging SA, together with its subsidiaries, supplies consumer metal beverage cans in Europe, the United States, and Brazil. Its products are used in various end-use categories, including beer, carbonated soft drinks, energy drinks, hard seltzers, juices, pre-mixed cocktails, teas, sparkling waters, and wine.