Ardagh Metal Packaging (NYSE:AMBP) Price Target Raised to $5.00

Ardagh Metal Packaging (NYSE:AMBP) had its price target upped by Citigroup from $4.00 to $5.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Morgan Stanley upped their price objective on Ardagh Metal Packaging from $3.50 to $4.10 and gave the company an “equal weight” rating in a report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.84.

Ardagh Metal Packaging Stock Up 2.1%

Shares of Ardagh Metal Packaging stock opened at $4.53 on Thursday. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -113.13, a price-to-earnings-growth ratio of 1.35 and a beta of 0.56. The business has a fifty day simple moving average of $3.98 and a 200-day simple moving average of $3.23. Ardagh Metal Packaging has a fifty-two week low of $2.50 and a fifty-two week high of $4.53.

Ardagh Metal Packaging (NYSE:AMBP) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.17 billion. Ardagh Metal Packaging had a negative return on equity of 112.58% and a net margin of 0.08%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. Analysts anticipate that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 8.84%. The ex-dividend date of this dividend was Monday, May 5th. Ardagh Metal Packaging’s dividend payout ratio is -1,000.00%.

Institutional Investors Weigh In On Ardagh Metal Packaging

Several hedge funds have recently modified their holdings of AMBP. Rhumbline Advisers lifted its holdings in shares of Ardagh Metal Packaging by 6.6% during the fourth quarter. Rhumbline Advisers now owns 161,504 shares of the company’s stock valued at $486,000 after purchasing an additional 10,023 shares during the last quarter. Fidelis Capital Partners LLC lifted its holdings in shares of Ardagh Metal Packaging by 52.9% during the fourth quarter. Fidelis Capital Partners LLC now owns 26,781 shares of the company’s stock valued at $81,000 after purchasing an additional 9,266 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Ardagh Metal Packaging by 14.0% during the fourth quarter. Victory Capital Management Inc. now owns 71,690 shares of the company’s stock valued at $216,000 after purchasing an additional 8,802 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Ardagh Metal Packaging during the fourth quarter valued at $42,000. Finally, Callan Family Office LLC purchased a new stake in shares of Ardagh Metal Packaging during the fourth quarter valued at $131,000. 16.93% of the stock is owned by hedge funds and other institutional investors.

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.