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

Ardagh Metal Packaging S.A. (NYSE:AMBP)’s stock price hit a new 52-week low on Thursday . The company traded as low as $2.68 and last traded at $2.73, with a volume of 1827950 shares traded. The stock had previously closed at $2.75.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citigroup reduced their target price on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company decreased their price objective on Ardagh Metal Packaging from $5.00 to $3.60 and set an “overweight” rating for the company in a research report on Monday, January 6th. Bank of America downgraded Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and lowered their target price for the company from $4.90 to $4.00 in a research note on Wednesday, December 11th. Finally, UBS Group cut their price target on Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.43.

Ardagh Metal Packaging Trading Down 2.2 %

The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 124.21. The business has a 50 day moving average price of $3.35 and a 200-day moving average price of $3.52. The firm has a market capitalization of $1.60 billion, a PE ratio of -22.25, a P/E/G ratio of 0.79 and a beta of 0.65.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings results 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 negative net margin of 0.99% and a positive return on equity of 1,760.00%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the company posted $0.06 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts expect that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 14.98%. Ardagh Metal Packaging’s dividend payout ratio is presently -333.33%.

Institutional Trading of Ardagh Metal Packaging

Several large investors have recently bought and sold shares of AMBP. Bank of New York Mellon Corp grew its stake in Ardagh Metal Packaging by 58.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 493,197 shares of the company’s stock valued at $1,677,000 after acquiring an additional 182,906 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Ardagh Metal Packaging by 34.5% in the second quarter. Principal Financial Group Inc. now owns 19,521 shares of the company’s stock valued at $66,000 after purchasing an additional 5,009 shares in the last quarter. Rhumbline Advisers grew its position in shares of Ardagh Metal Packaging by 11.5% in the second quarter. Rhumbline Advisers now owns 165,578 shares of the company’s stock valued at $563,000 after purchasing an additional 17,104 shares during the last quarter. American Century Companies Inc. grew its position in shares of Ardagh Metal Packaging by 14.3% in the second quarter. American Century Companies Inc. now owns 215,156 shares of the company’s stock valued at $732,000 after purchasing an additional 26,865 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Ardagh Metal Packaging by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 749,853 shares of the company’s stock worth $2,550,000 after purchasing an additional 15,637 shares in the last quarter. Institutional investors and hedge funds 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.