Ardagh Metal Packaging (NYSE:AMBP) Hits New 52-Week Low at $3.83

Ardagh Metal Packaging S.A. (NYSE:AMBP – Get Rating) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $3.83 and last traded at $3.87, with a volume of 250459 shares trading hands. The stock had previously closed at $3.94.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AMBP shares. Morgan Stanley dropped their price objective on shares of Ardagh Metal Packaging from $6.30 to $5.50 and set an “equal weight” rating for the company in a research note on Wednesday, March 1st. Bank of America raised shares of Ardagh Metal Packaging from a “neutral” rating to a “buy” rating and upped their price objective for the company from $5.60 to $6.00 in a research note on Thursday, December 15th. Wells Fargo & Company upped their price objective on shares of Ardagh Metal Packaging from $3.75 to $4.65 and gave the company an “equal weight” rating in a research note on Monday, January 9th. Credit Suisse Group dropped their price objective on shares of Ardagh Metal Packaging from $10.00 to $8.00 and set an “outperform” rating for the company in a research note on Tuesday, December 6th. Finally, Citigroup upped their price objective on shares of Ardagh Metal Packaging from $5.00 to $5.50 in a research note on Wednesday, January 4th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Ardagh Metal Packaging presently has an average rating of “Moderate Buy” and an average price target of $5.85.

Ardagh Metal Packaging Stock Down 2.0 %

The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 7.75. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 1.41 and a beta of 0.68. The firm’s fifty day simple moving average is $5.12 and its two-hundred day simple moving average is $4.97.

Ardagh Metal Packaging (NYSE:AMBP – Get Rating) last posted its earnings results on Thursday, February 23rd. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.04). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.14 billion. Ardagh Metal Packaging had a net margin of 5.05% and a return on equity of 44.69%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 earnings per share. Sell-side analysts anticipate that Ardagh Metal Packaging S.A. will post 0.27 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Tuesday, March 14th will be issued a $0.10 dividend. The ex-dividend date is Monday, March 13th. This represents a $0.40 annualized dividend and a dividend yield of 10.34%. Ardagh Metal Packaging’s dividend payout ratio is currently 105.26%.

Hedge Funds Weigh In On Ardagh Metal Packaging

Large investors have recently made changes to their positions in the stock. Ellevest Inc. lifted its holdings in shares of Ardagh Metal Packaging by 430.9% in the 3rd quarter. Ellevest Inc. now owns 8,929 shares of the company’s stock worth $43,000 after acquiring an additional 7,247 shares during the last quarter. Corvex Management LP acquired a new position in shares of Ardagh Metal Packaging in the 2nd quarter worth approximately $13,037,000. Private Management Group Inc. lifted its holdings in shares of Ardagh Metal Packaging by 6.8% in the 3rd quarter. Private Management Group Inc. now owns 4,151,174 shares of the company’s stock worth $20,092,000 after acquiring an additional 265,361 shares during the last quarter. Loews Corp lifted its holdings in shares of Ardagh Metal Packaging by 11.3% in the 2nd quarter. Loews Corp now owns 4,450,000 shares of the company’s stock worth $27,145,000 after acquiring an additional 450,000 shares during the last quarter. Finally, Clarity Financial LLC acquired a new position in shares of Ardagh Metal Packaging in the 3rd quarter worth approximately $61,000. 19.04% of the stock is currently owned by institutional investors and hedge funds.

About Ardagh Metal Packaging

(Get Rating)

Ardagh Metal Packaging SA supplies 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. The company serves beverage producers.