Ardagh Metal Packaging (NYSE:AMBP) Sets New 12-Month High – Here’s Why

Shares of Ardagh Metal Packaging S.A. (NYSE:AMBPGet Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $5.54 and last traded at $5.3180, with a volume of 65655 shares traded. The stock had previously closed at $5.06.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMBP shares. Wells Fargo & Company raised their price target on Ardagh Metal Packaging from $4.00 to $5.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. Citigroup reaffirmed a “buy” rating on shares of Ardagh Metal Packaging in a research report on Friday, July 24th. Weiss Ratings raised Ardagh Metal Packaging from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 7th. UBS Group boosted their target price on Ardagh Metal Packaging from $4.75 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Wall Street Zen raised Ardagh Metal Packaging from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.86.

View Our Latest Research Report on Ardagh Metal Packaging

Ardagh Metal Packaging Trading Up 5.9%

The company’s 50 day moving average is $4.60 and its 200 day moving average is $4.39. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 88.93, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51.

Ardagh Metal Packaging (NYSE:AMBPGet Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Ardagh Metal Packaging had a net margin of 0.68% and a negative return on equity of 27.93%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Ardagh Metal Packaging’s revenue for the quarter was up 17.7% on a year-over-year basis. Analysts anticipate that Ardagh Metal Packaging S.A. will post 0.28 EPS for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend is Thursday, September 10th. Ardagh Metal Packaging’s payout ratio is presently 666.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMBP. Optiver Holding B.V. lifted its stake in Ardagh Metal Packaging by 540.2% in the first quarter. Optiver Holding B.V. now owns 7,145 shares of the company’s stock valued at $29,000 after buying an additional 6,029 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Ardagh Metal Packaging in the 4th quarter valued at $33,000. Abel Hall LLC acquired a new position in shares of Ardagh Metal Packaging in the 1st quarter valued at $42,000. Dynamic Technology Lab Private Ltd purchased a new stake in Ardagh Metal Packaging in the 1st quarter valued at $43,000. Finally, Nations Financial Group Inc. IA ADV purchased a new stake in Ardagh Metal Packaging in the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 16.93% of the company’s stock.

Ardagh Metal Packaging Company Profile

(Get Free Report)

Ardagh Metal Packaging (NYSE: AMBP) is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating.

The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.

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