Ardagh Metal Packaging (NYSE:AMBP) Shares Gap Up – Here’s Why

Ardagh Metal Packaging S.A. (NYSE:AMBP) gapped up prior to trading on Tuesday . The stock had previously closed at $3.83, but opened at $3.93. Ardagh Metal Packaging shares last traded at $4.02, with a volume of 391,075 shares.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group cut Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and cut their price objective for the company from $5.00 to $3.75 in a research report on Wednesday, July 17th. Wells Fargo & Company raised Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $4.25 to $5.00 in a research report on Tuesday. Citigroup lifted their price objective on Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, Bank of America raised Ardagh Metal Packaging from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $3.80 to $5.10 in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.08.

Ardagh Metal Packaging Price Performance

The company’s fifty day moving average price is $3.59 and its 200-day moving average price is $3.66. The stock has a market capitalization of $2.37 billion, a PE ratio of -28.32, a price-to-earnings-growth ratio of 0.79 and a beta of 0.62. The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 124.21.

Ardagh Metal Packaging (NYSE:AMBP) last released its earnings results on Thursday, July 25th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. Ardagh Metal Packaging had a negative net margin of 1.02% and a positive return on equity of 114.77%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the business earned $0.04 earnings per share. The business’s revenue was up .3% on a year-over-year basis. Analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued 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 dividend yield of 10.09%. Ardagh Metal Packaging’s payout ratio is -285.71%.

Hedge Funds Weigh In On Ardagh Metal Packaging

A number of hedge funds have recently added to or reduced their stakes in the company. King Street Capital Management L.P. purchased a new position in Ardagh Metal Packaging in the 2nd quarter worth approximately $14,790,000. Squarepoint Ops LLC raised its holdings in Ardagh Metal Packaging by 523.8% in the 2nd quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company’s stock worth $10,568,000 after acquiring an additional 2,446,997 shares during the last quarter. Gilman Hill Asset Management LLC raised its holdings in Ardagh Metal Packaging by 1.3% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 1,805,704 shares of the company’s stock worth $6,139,000 after acquiring an additional 23,458 shares during the last quarter. Keeley Teton Advisors LLC raised its holdings in Ardagh Metal Packaging by 0.5% in the 1st quarter. Keeley Teton Advisors LLC now owns 1,695,498 shares of the company’s stock worth $5,816,000 after acquiring an additional 8,433 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Ardagh Metal Packaging by 48.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,325,132 shares of the company’s stock worth $4,505,000 after acquiring an additional 433,700 shares during the last quarter. 16.93% of the stock is currently owned by hedge funds and other 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.