Ardagh Metal Packaging (NYSE:AMBP) Sets New 12-Month High - Here's Why

Ardagh Metal Packaging S.A. (NYSE:AMBP - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $3.79 and last traded at $3.71, with a volume of 2066154 shares traded. The stock had previously closed at $3.78.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AMBP shares. Citigroup lowered their target price on Ardagh Metal Packaging from $4.50 to $4.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. UBS Group dropped their target price on Ardagh Metal Packaging from $4.25 to $2.75 and set a "neutral" rating for the company in a report on Friday, January 10th. Morgan Stanley upgraded shares of Ardagh Metal Packaging from an "underweight" rating to an "equal weight" rating and decreased their price target for the company from $3.60 to $3.10 in a research note on Monday, January 13th. Finally, Wells Fargo & Company reiterated an "equal weight" rating and issued a $3.35 price objective (down previously from $3.60) on shares of Ardagh Metal Packaging in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $3.44.

Ardagh Metal Packaging Price Performance

The stock has a 50-day moving average of $2.95 and a 200 day moving average of $3.12. The company has a market cap of $2.18 billion, a P/E ratio of -30.41, a PEG ratio of 0.54 and a beta of 0.54.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.17 billion. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 EPS. Sell-side analysts predict that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.96%. The ex-dividend date of this dividend is Monday, May 5th. Ardagh Metal Packaging's dividend payout ratio is presently -1,000.00%.

Hedge Funds Weigh In On Ardagh Metal Packaging

A number of institutional investors have recently modified their holdings of AMBP. Diameter Capital Partners LP boosted its stake in Ardagh Metal Packaging by 10.1% in the fourth quarter. Diameter Capital Partners LP now owns 4,374,121 shares of the company's stock valued at $13,166,000 after buying an additional 400,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ardagh Metal Packaging by 10.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,421,972 shares of the company's stock valued at $10,300,000 after purchasing an additional 312,640 shares in the last quarter. Solas Capital Management LLC grew its holdings in shares of Ardagh Metal Packaging by 10.9% during the 4th quarter. Solas Capital Management LLC now owns 3,361,378 shares of the company's stock valued at $10,118,000 after purchasing an additional 330,000 shares during the last quarter. King Street Capital Management L.P. increased its position in Ardagh Metal Packaging by 155.0% during the 4th quarter. King Street Capital Management L.P. now owns 2,550,000 shares of the company's stock worth $7,676,000 after purchasing an additional 1,550,000 shares in the last quarter. Finally, CenterBook Partners LP lifted its stake in Ardagh Metal Packaging by 161.0% in the 4th quarter. CenterBook Partners LP now owns 2,370,730 shares of the company's stock valued at $7,136,000 after purchasing an additional 1,462,548 shares during the last quarter. Institutional investors and hedge funds own 16.93% of the company's stock.

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.