Ardagh Metal Packaging (NYSE:AMBP) Trading 7% Higher After Strong Earnings

Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) traded up 7% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $3.11 and last traded at $3.12. 1,830,507 shares changed hands during trading, an increase of 41% from the average session volume of 1,302,372 shares. The stock had previously closed at $2.91.

The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 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 $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion.

Ardagh Metal Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.40 annualized dividend and a yield of 14.01%. Ardagh Metal Packaging’s dividend payout ratio (DPR) is presently -333.33%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMBP. Bank of America downgraded shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and cut their price target for the stock from $4.90 to $4.00 in a report on Wednesday, December 11th. Citigroup cut their price target on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $3.35 price target (down previously from $3.60) on shares of Ardagh Metal Packaging in a report on Thursday, January 16th. Morgan Stanley upgraded shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $3.60 to $3.10 in a report on Monday, January 13th. Finally, UBS Group cut their price target on shares of Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.44.

Institutional Investors Weigh In On Ardagh Metal Packaging

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its stake in shares of Ardagh Metal Packaging by 0.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 641,868 shares of the company’s stock worth $2,420,000 after purchasing an additional 3,290 shares during the period. Marshall Wace LLP grew its stake in shares of Ardagh Metal Packaging by 2.4% during the 4th quarter. Marshall Wace LLP now owns 171,277 shares of the company’s stock worth $516,000 after purchasing an additional 3,970 shares during the period. Dakota Wealth Management grew its stake in shares of Ardagh Metal Packaging by 2.8% during the 4th quarter. Dakota Wealth Management now owns 146,682 shares of the company’s stock worth $442,000 after purchasing an additional 4,030 shares during the period. EP Wealth Advisors LLC lifted its position in shares of Ardagh Metal Packaging by 9.5% during the 4th quarter. EP Wealth Advisors LLC now owns 54,647 shares of the company’s stock valued at $164,000 after buying an additional 4,731 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of Ardagh Metal Packaging by 3.7% during the 4th quarter. Gabelli Funds LLC now owns 139,000 shares of the company’s stock valued at $418,000 after buying an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 16.93% of the company’s stock.

Ardagh Metal Packaging Trading Down 9.7 %

The stock has a market cap of $1.71 billion, a PE ratio of -23.79, a price-to-earnings-growth ratio of 0.54 and a beta of 0.64. The business has a 50-day moving average price of $2.80 and a 200-day moving average price of $3.34.

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.