Ardagh Metal Packaging (NYSE:AMBP) Given New $4.50 Price Target at Citigroup

Ardagh Metal Packaging (NYSE:AMBP) had its price target upped by Citigroup from $4.00 to $4.50 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on AMBP. UBS Group lowered shares of Ardagh Metal Packaging from a buy rating to a neutral rating and dropped their price target for the stock from $5.00 to $3.75 in a research note on Wednesday, July 17th. Wells Fargo & Company boosted their price objective on shares of Ardagh Metal Packaging from $3.95 to $4.25 and gave the stock an equal weight rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Ardagh Metal Packaging has an average rating of Hold and an average target price of $3.74.

Ardagh Metal Packaging Trading Up 2.2 %

Shares of Ardagh Metal Packaging stock opened at $3.75 on Wednesday. Ardagh Metal Packaging has a 52-week low of $2.57 and a 52-week high of $4.17. The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 124.21. The company’s 50-day simple moving average is $3.54 and its 200-day simple moving average is $3.63. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of -26.79, a price-to-earnings-growth ratio of 0.78 and a beta of 0.62.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Ardagh Metal Packaging had a negative net margin of 1.02% and a positive return on equity of 114.77%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business posted $0.04 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. As a group, equities research analysts anticipate that Ardagh Metal Packaging will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 10.67%. The ex-dividend date of this dividend was Thursday, September 12th. Ardagh Metal Packaging’s dividend payout ratio is currently -285.71%.

Institutional Trading of Ardagh Metal Packaging

A number of institutional investors have recently added to or reduced their stakes in the stock. Angeles Wealth Management LLC purchased a new stake in shares of Ardagh Metal Packaging in the fourth quarter valued at about $1,863,000. Platinum Investment Management Ltd. lifted its holdings in shares of Ardagh Metal Packaging by 146.9% in the fourth quarter. Platinum Investment Management Ltd. now owns 66,982 shares of the company’s stock valued at $257,000 after purchasing an additional 39,854 shares in the last quarter. Brightline Capital Management LLC purchased a new stake in shares of Ardagh Metal Packaging in the fourth quarter valued at about $8,582,000. Grizzlyrock Capital LLC purchased a new stake in shares of Ardagh Metal Packaging in the fourth quarter valued at about $9,360,000. Finally, Sanders Morris Harris LLC purchased a new stake in shares of Ardagh Metal Packaging in the first quarter valued at about $98,000. Hedge funds and other 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.