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

Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) reached a new 52-week low during trading on Friday . The stock traded as low as $2.93 and last traded at $2.97, with a volume of 271092 shares. The stock had previously closed at $2.97.

Wall Street Analyst Weigh In

AMBP has been the topic of a number of analyst reports. Bank of America cut Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $4.90 to $4.00 in a research note on Wednesday, December 11th. Wells Fargo & Company upgraded 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 note on Tuesday, October 15th. Finally, Citigroup increased 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.92.

Ardagh Metal Packaging Price Performance

The company has a debt-to-equity ratio of 124.21, a current ratio of 1.17 and a quick ratio of 0.88. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -24.83, a P/E/G ratio of 0.79 and a beta of 0.61. The stock has a fifty day moving average of $3.46 and a 200 day moving average of $3.55.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, analysts expect that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 13.42%. The ex-dividend date was Thursday, December 5th. Ardagh Metal Packaging’s dividend payout ratio is presently -333.31%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMBP. Janney Montgomery Scott LLC raised its stake in Ardagh Metal Packaging by 0.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 641,868 shares of the company’s stock valued at $2,420,000 after acquiring an additional 3,290 shares during the last quarter. Signaturefd LLC grew its holdings in Ardagh Metal Packaging by 23.1% during the 3rd quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock valued at $71,000 after buying an additional 3,515 shares during the last quarter. nVerses Capital LLC raised its stake in Ardagh Metal Packaging by 70.4% in the 3rd quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock valued at $46,000 after purchasing an additional 5,000 shares during the last quarter. Principal Financial Group Inc. raised its position 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 buying an additional 5,009 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Ardagh Metal Packaging by 17.8% during the 3rd quarter. US Bancorp DE now owns 39,978 shares of the company’s stock worth $151,000 after purchasing an additional 6,031 shares during the period. Hedge funds and other institutional investors own 16.93% of the company’s stock.

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.