Ardagh Metal Packaging (NYSE:AMBP) Trading Up 4% Following Better-Than-Expected Earnings

Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP - Get Free Report) rose 4% during trading on Friday following a stronger than expected earnings report. The stock traded as high as $3.75 and last traded at $3.75. Approximately 646,396 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 1,508,158 shares. The stock had previously closed at $3.60.

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 net margin of 0.99% and a positive return on equity of 1,760.00%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $0.01 EPS. The company's revenue for the quarter was up 11.1% compared to the same quarter last year.

Ardagh Metal Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.67%. Ardagh Metal Packaging's dividend payout ratio is presently -1,000.00%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Ardagh Metal Packaging

A number of institutional investors and hedge funds have recently modified their holdings of AMBP. Larson Financial Group LLC bought a new position in shares of Ardagh Metal Packaging during the 4th quarter valued at about $30,000. Tower Research Capital LLC TRC grew its position in shares of Ardagh Metal Packaging by 292.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,975 shares of the company's stock valued at $33,000 after acquiring an additional 8,180 shares during the period. Xponance Inc. acquired a new stake in shares of Ardagh Metal Packaging in the fourth quarter valued at approximately $41,000. Cibc World Markets Corp bought a new position in Ardagh Metal Packaging during the fourth quarter worth $41,000. Finally, Aigen Investment Management LP acquired a new stake in Ardagh Metal Packaging during the fourth quarter worth approximately $42,000. 16.93% of the stock is owned by institutional investors.

Ardagh Metal Packaging Stock Performance

The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -31.25, a price-to-earnings-growth ratio of 0.54 and a beta of 0.54. The business has a fifty day simple moving average of $2.90 and a 200 day simple moving average of $3.13.

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.