Ardagh Metal Packaging S.A. (NYSE:AMBP – Get Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $4.80, but opened at $4.50. Ardagh Metal Packaging shares last traded at $4.7250, with a volume of 332,232 shares.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on AMBP. Weiss Ratings upgraded shares of Ardagh Metal Packaging from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Ardagh Metal Packaging in a research note on Thursday, August 20th. They set a “hold” rating and a $5.20 price target on the stock. Wall Street Zen cut Ardagh Metal Packaging from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Citigroup reaffirmed a “buy” rating on shares of Ardagh Metal Packaging in a research report on Friday, July 24th. Finally, UBS Group increased their target price on Ardagh Metal Packaging from $4.75 to $5.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.92.
Check Out Our Latest Analysis on Ardagh Metal Packaging
Ardagh Metal Packaging Stock Performance
Ardagh Metal Packaging (NYSE:AMBP – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $0.11 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 company posted $0.08 earnings per share. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts anticipate that Ardagh Metal Packaging S.A. will post 0.28 earnings per share for the current year.
Ardagh Metal Packaging Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.40 annualized dividend and a dividend yield of 8.4%. Ardagh Metal Packaging’s dividend payout ratio (DPR) is currently 666.67%.
Hedge Funds Weigh In On Ardagh Metal Packaging
Several institutional investors have recently modified their holdings of the business. WINTON GROUP Ltd bought a new stake in Ardagh Metal Packaging during the second quarter worth $309,000. Engineers Gate Manager LP grew its stake in Ardagh Metal Packaging by 651.0% in the 2nd quarter. Engineers Gate Manager LP now owns 126,157 shares of the company’s stock valued at $598,000 after purchasing an additional 109,358 shares during the period. Squarepoint Ops LLC increased its position in shares of Ardagh Metal Packaging by 59.6% during the 2nd quarter. Squarepoint Ops LLC now owns 379,994 shares of the company’s stock valued at $1,801,000 after purchasing an additional 141,877 shares during the last quarter. Waverly Advisors LLC bought a new stake in shares of Ardagh Metal Packaging during the 2nd quarter worth $190,000. Finally, Corient Private Wealth LP purchased a new position in shares of Ardagh Metal Packaging in the 2nd quarter worth about $50,000. 16.93% of the stock is owned by institutional investors.
Ardagh Metal Packaging Company Profile
Ardagh Metal Packaging SA (NYSE:AMBP) is a global supplier of sustainable, infinitely recyclable metal packaging. The company primarily manufactures beverage cans and ends for beer, soft drinks, energy drinks, sparkling water and other beverage products, serving branded consumer-goods companies, retailers and beverage producers.
The company operates production facilities across Europe, North America and Brazil. Its products are designed for a range of beverage formats and sizes, with a focus on lightweighting, recyclability and packaging solutions that support customers’ sustainability objectives.
Ardagh Metal Packaging was formed through the separation of Ardagh Group’s metal beverage packaging operations and became a publicly traded company in 2021 following a business combination with a special purpose acquisition company.
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