Ardagh Metal Packaging (NYSE:AMBP) Price Target Cut to $4.00 by Analysts at Citigroup

Ardagh Metal Packaging (NYSE:AMBP) had its price target trimmed by Citigroup from $4.50 to $4.00 in a report issued on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

AMBP has been the topic of several other reports. Wells Fargo & Company reduced their price objective on Ardagh Metal Packaging from $5.00 to $3.60 and set an “overweight” rating on the stock in a research report on Monday. Bank of America lowered Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and cut their target price for the stock from $4.90 to $4.00 in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.65.

Ardagh Metal Packaging Stock Performance

NYSE:AMBP opened at $2.91 on Monday. The business’s fifty day moving average is $3.43 and its 200 day moving average is $3.54. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -24.25, a PEG ratio of 0.79 and a beta of 0.65. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.88 and a current ratio of 1.17. Ardagh Metal Packaging has a 52-week low of $2.89 and a 52-week high of $4.26.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.08 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 firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the business earned $0.06 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Research analysts predict that Ardagh Metal Packaging will post 0.16 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 13.75%. The ex-dividend date of this dividend was Thursday, December 5th. Ardagh Metal Packaging’s payout ratio is presently -333.33%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AMBP. Citigroup Inc. increased its stake in shares of Ardagh Metal Packaging by 15,834.1% in the 3rd quarter. Citigroup Inc. now owns 5,104,806 shares of the company’s stock worth $19,245,000 after purchasing an additional 5,072,769 shares in the last quarter. King Street Capital Management L.P. bought a new stake in Ardagh Metal Packaging during the second quarter valued at about $14,790,000. Squarepoint Ops LLC increased its position in Ardagh Metal Packaging by 523.8% in the second quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company’s stock worth $10,568,000 after buying an additional 2,446,997 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Ardagh Metal Packaging by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,784,882 shares of the company’s stock worth $6,729,000 after buying an additional 11,963 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted 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 buying an additional 489,146 shares in the last quarter. Institutional investors own 16.93% of the company’s stock.

Ardagh Metal Packaging Company Profile

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.