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

Ardagh Metal Packaging S.A. (NYSE:AMBP - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $4.78 and last traded at $4.75, with a volume of 76533 shares. The stock had previously closed at $4.74.

Analyst Upgrades and Downgrades

AMBP has been the topic of several research reports. Morgan Stanley upped their price target 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. UBS Group upped their price target on Ardagh Metal Packaging from $3.40 to $4.50 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Finally, Citigroup upped their price target on Ardagh Metal Packaging from $4.00 to $5.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $4.19.

Ardagh Metal Packaging Stock Performance

The firm's 50 day simple moving average is $4.07 and its 200-day simple moving average is $3.29. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -118.13, a P/E/G ratio of 1.14 and a beta of 0.56.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last posted its quarterly 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 business had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.17 billion. Ardagh Metal Packaging had a net margin of 0.08% and a negative return on equity of 112.58%. Ardagh Metal Packaging's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. As a group, equities analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 8.47%. The ex-dividend date was Monday, May 5th. Ardagh Metal Packaging's dividend payout ratio (DPR) is -1,000.00%.

Institutional Investors Weigh In On Ardagh Metal Packaging

A number of hedge funds have recently bought and sold shares of the company. Counterpoint Mutual Funds LLC bought a new stake in shares of Ardagh Metal Packaging in the second quarter valued at about $342,000. Wealth Enhancement Advisory Services LLC raised its position in Ardagh Metal Packaging by 56.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 26,402 shares of the company's stock worth $119,000 after purchasing an additional 9,487 shares in the last quarter. Gilman Hill Asset Management LLC raised its position in Ardagh Metal Packaging by 1.5% in the second quarter. Gilman Hill Asset Management LLC now owns 1,997,263 shares of the company's stock worth $8,548,000 after purchasing an additional 30,176 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in Ardagh Metal Packaging in the second quarter worth about $43,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Ardagh Metal Packaging in the first quarter worth about $43,000. 16.93% of the stock is currently owned by 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.