Ardagh Metal Packaging (NYSE:AMBP) Price Target Raised to $4.50

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

AMBP has been the subject of several other reports. UBS Group cut shares of Ardagh Metal Packaging from a buy rating to a neutral rating and decreased their price objective for the stock from $5.00 to $3.75 in a research report on Wednesday, July 17th. Wells Fargo & Company lifted their price objective on shares of Ardagh Metal Packaging from $3.95 to $4.25 and gave the stock an equal weight rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $3.74.

Ardagh Metal Packaging Price Performance

Ardagh Metal Packaging stock opened at $3.75 on Wednesday. The stock has a market cap of $2.24 billion, a P/E ratio of -26.79, a price-to-earnings-growth ratio of 0.78 and a beta of 0.62. The company has a fifty day simple moving average of $3.54 and a 200-day simple moving average of $3.63. Ardagh Metal Packaging has a 12-month low of $2.57 and a 12-month high of $4.17. The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 124.21.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Ardagh Metal Packaging had a negative net margin of 1.02% and a positive return on equity of 114.77%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 EPS. Equities analysts expect that Ardagh Metal Packaging will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.40 annualized dividend and a yield of 10.67%. Ardagh Metal Packaging’s dividend payout ratio is currently -285.71%.

Institutional Investors Weigh In On Ardagh Metal Packaging

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. increased its stake in Ardagh Metal Packaging by 183.9% in the second quarter. Point72 Asset Management L.P. now owns 142,525 shares of the company’s stock valued at $485,000 after purchasing an additional 92,325 shares during the period. Quarry LP acquired a new position in Ardagh Metal Packaging in the second quarter valued at $45,000. Susquehanna Fundamental Investments LLC acquired a new position in Ardagh Metal Packaging in the second quarter valued at $187,000. Mackenzie Financial Corp acquired a new position in Ardagh Metal Packaging in the second quarter valued at $405,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Ardagh Metal Packaging in the second quarter valued at $188,000. 16.93% of the stock is currently owned by institutional investors and hedge funds.

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.