Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP - Get Free Report) were down 12% during mid-day trading on Thursday . The company traded as low as $4.07 and last traded at $4.09. Approximately 1,096,830 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 1,820,113 shares. The stock had previously closed at $4.64.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on AMBP shares. UBS Group increased their target price on Ardagh Metal Packaging from $3.40 to $4.50 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Morgan Stanley raised their price objective on Ardagh Metal Packaging from $3.50 to $4.10 and gave the company an "equal weight" rating in a research note on Wednesday, June 25th. Wells Fargo & Company raised their price target on Ardagh Metal Packaging from $3.45 to $5.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Finally, Citigroup raised their price target on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $4.52.
Check Out Our Latest Stock Analysis on AMBP
Ardagh Metal Packaging Trading Down 2.7%
The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -125.83, a PEG ratio of 0.93 and a beta of 0.56. The firm has a 50-day moving average price of $4.22 and a 200-day moving average price of $3.39.
Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. Ardagh Metal Packaging had a negative return on equity of 98.66% and a net margin of 0.13%. The company had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.33 billion. During the same period last year, the firm earned $0.06 EPS. The firm's revenue for the quarter was up 15.6% on a year-over-year basis. Equities research analysts predict that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.
Ardagh Metal Packaging Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Thursday, August 7th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.60%. The ex-dividend date of this dividend is Thursday, August 7th. Ardagh Metal Packaging's payout ratio is -1,333.33%.
Institutional Trading of Ardagh Metal Packaging
Several hedge funds and other institutional investors have recently modified their holdings of AMBP. Norges Bank bought a new position in shares of Ardagh Metal Packaging in the 4th quarter valued at approximately $880,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Ardagh Metal Packaging in the 1st quarter worth approximately $51,000. Allspring Global Investments Holdings LLC grew its position in Ardagh Metal Packaging by 2.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 137,503 shares of the company's stock worth $415,000 after acquiring an additional 3,320 shares during the last quarter. Gilman Hill Asset Management LLC grew its position in Ardagh Metal Packaging by 10.3% during the 1st quarter. Gilman Hill Asset Management LLC now owns 1,967,087 shares of the company's stock worth $5,941,000 after acquiring an additional 184,305 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Ardagh Metal Packaging by 74.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,220 shares of the company's stock valued at $118,000 after buying an additional 16,711 shares during the last quarter. Institutional investors and hedge funds own 16.93% of the company's stock.
About Ardagh Metal Packaging
(
Get Free Report)
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.
Further Reading
Before you consider Ardagh Metal Packaging, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ardagh Metal Packaging wasn't on the list.
While Ardagh Metal Packaging currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
