Ardagh Metal Packaging (NYSE:AMBP) Sees Strong Trading Volume

Ardagh Metal Packaging S.A. (NYSE:AMBP - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 3,435,261 shares traded hands during trading, an increase of 196% from the previous session's volume of 1,160,863 shares.The stock last traded at $3.38 and had previously closed at $3.33.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AMBP shares. UBS Group started coverage on Ardagh Metal Packaging in a report on Tuesday, January 16th. They set a "buy" rating and a $5.00 target price for the company. Bank of America downgraded Ardagh Metal Packaging from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $4.10 to $3.50 in a research note on Monday, April 1st. Wells Fargo & Company increased their price objective on Ardagh Metal Packaging from $3.70 to $3.75 and gave the stock an "equal weight" rating in a research note on Thursday, April 11th. Barclays downgraded Ardagh Metal Packaging from an "overweight" rating to an "equal weight" rating and set a $4.00 price objective for the company. in a research note on Monday, January 8th. Finally, Morgan Stanley started coverage on Ardagh Metal Packaging in a research note on Monday, March 18th. They issued an "underweight" rating and a $3.20 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $4.31.

Ardagh Metal Packaging Price Performance

The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -28.83, a price-to-earnings-growth ratio of 0.68 and a beta of 0.75. The stock has a fifty day simple moving average of $3.49 and a 200-day simple moving average of $3.53. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 34.34.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. Ardagh Metal Packaging had a negative net margin of 1.04% and a positive return on equity of 38.48%. The business's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $0.05 EPS. As a group, equities research analysts expect that Ardagh Metal Packaging S.A. will post 0.18 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 11.56%. Ardagh Metal Packaging's dividend payout ratio is currently -333.33%.

Hedge Funds Weigh In On Ardagh Metal Packaging

Several hedge funds and other institutional investors have recently modified their holdings of AMBP. Bank of America Corp DE lifted its position in shares of Ardagh Metal Packaging by 1,382.5% during the 4th quarter. Bank of America Corp DE now owns 4,682,134 shares of the company's stock worth $22,521,000 after buying an additional 4,366,315 shares during the period. Canyon Capital Advisors LLC increased its holdings in Ardagh Metal Packaging by 69.0% during the 1st quarter. Canyon Capital Advisors LLC now owns 10,154,743 shares of the company's stock valued at $41,431,000 after purchasing an additional 4,146,893 shares in the last quarter. BW Gestao de Investimentos Ltda. increased its holdings in Ardagh Metal Packaging by 771.2% during the 3rd quarter. BW Gestao de Investimentos Ltda. now owns 2,783,639 shares of the company's stock valued at $8,713,000 after purchasing an additional 2,464,105 shares in the last quarter. Grizzlyrock Capital LLC acquired a new stake in Ardagh Metal Packaging during the 4th quarter valued at $9,360,000. Finally, Brightline Capital Management LLC acquired a new stake in Ardagh Metal Packaging during the 4th quarter valued at $8,582,000. Institutional investors own 16.93% of the company's stock.

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.