Ardagh Metal Packaging (NYSE:AMBP) Hits New 52-Week High - Still a Buy?

Ardagh Metal Packaging S.A. (NYSE:AMBP - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $4.43 and last traded at $4.41, with a volume of 356228 shares trading hands. The stock had previously closed at $4.28.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley increased their price target on Ardagh Metal Packaging from $3.50 to $4.10 and gave the stock an "equal weight" rating in a research report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Ardagh Metal Packaging has an average rating of "Hold" and a consensus price target of $3.64.

Ardagh Metal Packaging Stock Performance

The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -110.75, a price-to-earnings-growth ratio of 1.28 and a beta of 0.56. The business's 50 day simple moving average is $3.91 and its 200-day simple moving average is $3.20.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.01. Ardagh Metal Packaging had a negative return on equity of 112.58% and a net margin of 0.08%. The company had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the previous year, the company posted $0.01 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 9.03%. The ex-dividend date of this dividend 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 and other institutional investors have recently modified their holdings of AMBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ardagh Metal Packaging by 172.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,324,218 shares of the company's stock valued at $28,159,000 after buying an additional 5,902,246 shares during the period. Anchorage Capital Advisors L.P. bought a new position in shares of Ardagh Metal Packaging in the fourth quarter valued at approximately $5,830,000. King Street Capital Management L.P. boosted its holdings in shares of Ardagh Metal Packaging by 155.0% in the fourth quarter. King Street Capital Management L.P. now owns 2,550,000 shares of the company's stock valued at $7,676,000 after acquiring an additional 1,550,000 shares in the last quarter. CenterBook Partners LP increased its stake in shares of Ardagh Metal Packaging by 161.0% during the fourth quarter. CenterBook Partners LP now owns 2,370,730 shares of the company's stock valued at $7,136,000 after acquiring an additional 1,462,548 shares during the period. Finally, Mountaineer Partners Management LLC bought a new stake in Ardagh Metal Packaging during the fourth quarter worth approximately $3,184,000. 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.