Ardagh Metal Packaging (NYSE:AMBP) Reaches New 52-Week Low – Here’s What Happened

Ardagh Metal Packaging S.A. (NYSE:AMBP) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.97 and last traded at $2.97, with a volume of 250463 shares trading hands. The stock had previously closed at $3.02.

Analysts Set New Price Targets

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

Ardagh Metal Packaging Stock Performance

The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -24.75, a P/E/G ratio of 0.78 and a beta of 0.61. The business’s 50-day simple moving average is $3.60 and its two-hundred day simple moving average is $3.58. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 124.21.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the company posted $0.06 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts expect that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders 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 dividend yield of 13.47%. Ardagh Metal Packaging’s payout ratio is -333.33%.

Institutional Investors Weigh In On Ardagh Metal Packaging

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ballentine Partners LLC purchased a new stake in shares of Ardagh Metal Packaging in the third quarter valued at approximately $42,000. Quarry LP purchased a new position in Ardagh Metal Packaging during the second quarter worth approximately $45,000. nVerses Capital LLC increased its stake in Ardagh Metal Packaging by 70.4% during the third quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $46,000 after acquiring an additional 5,000 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Ardagh Metal Packaging by 34.5% during the 2nd quarter. Principal Financial Group Inc. now owns 19,521 shares of the company’s stock valued at $66,000 after acquiring an additional 5,009 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Ardagh Metal Packaging by 23.1% in the third quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock worth $71,000 after buying an additional 3,515 shares during the period. Hedge funds and other 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.