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

Ardagh Metal Packaging (NYSE:AMBP) had its price objective lowered by Citigroup from $4.50 to $4.00 in a research report report published on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on AMBP. Bank of America downgraded Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $4.90 to $4.00 in a research note on Wednesday, December 11th. Wells Fargo & Company dropped their price target on Ardagh Metal Packaging from $5.00 to $3.60 and set an “overweight” rating on the stock in a research note on Monday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $3.59.

Ardagh Metal Packaging Stock Performance

Shares of AMBP opened at $2.73 on Monday. The business’s fifty day simple moving average is $3.39 and its two-hundred day simple moving average is $3.53. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 124.21. Ardagh Metal Packaging has a 12 month low of $2.68 and a 12 month high of $4.26. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -22.75, a P/E/G ratio of 0.79 and a beta of 0.65.

Ardagh Metal Packaging (NYSE:AMBP) last issued its earnings results on Thursday, October 24th. The company reported $0.08 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted $0.06 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Research analysts anticipate that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors 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 yield of 14.65%. Ardagh Metal Packaging’s dividend payout ratio is currently -333.33%.

Hedge Funds Weigh In On Ardagh Metal Packaging

A number of institutional investors have recently bought and sold shares of AMBP. Ballentine Partners LLC bought a new position in Ardagh Metal Packaging in the 3rd quarter worth $42,000. Quarry LP bought a new position in Ardagh Metal Packaging in the 2nd quarter worth $45,000. nVerses Capital LLC raised its holdings in Ardagh Metal Packaging by 70.4% in the 3rd quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $46,000 after purchasing an additional 5,000 shares during the period. Principal Financial Group Inc. raised its holdings in Ardagh Metal Packaging by 34.5% in the 2nd quarter. Principal Financial Group Inc. now owns 19,521 shares of the company’s stock worth $66,000 after purchasing an additional 5,009 shares during the period. Finally, Signaturefd LLC raised its holdings in Ardagh Metal Packaging by 23.1% during the third quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock valued at $71,000 after acquiring an additional 3,515 shares during the period. 16.93% of the stock is owned by institutional investors.

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.