Ardagh Metal Packaging (NYSE:AMBP) Stock Price Up 7.7% - What's Next?

Key Points

• AMBP shares rose 7.7% to about $4.66 in mid-day trading, with volume below the stock’s average session volume.
• Analyst sentiment remains cautious: the stock has one Buy rating and five Holds, with an average rating of “Hold” and a consensus price target of $4.83. Recent targets ranged from $5.00 at Wells Fargo to $5.20 at Deutsche Bank.
• Ardagh Metal Packaging exceeded quarterly earnings and revenue expectations, reporting $0.11 in EPS and $1.71 billion in revenue; it also pays a $0.10 quarterly dividend, representing an annualized yield of roughly 8.6%.

Ardagh Metal Packaging S.A. (NYSE:AMBP - Get Free Report)'s share price traded up 7.7% during mid-day trading on Thursday. The stock traded as high as $4.68 and last traded at $4.6640. 1,417,829 shares were traded during mid-day trading, a decline of 21% from the average session volume of 1,798,048 shares. The stock had previously closed at $4.33.

Analysts Set New Price Targets

AMBP has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 15th. Citigroup reiterated a "buy" rating on shares of Ardagh Metal Packaging in a research report on Friday, July 24th. Weiss Ratings raised shares of Ardagh Metal Packaging from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ardagh Metal Packaging in a research note on Thursday, August 20th. They issued a "hold" rating and a $5.20 target price on the stock. Finally, Wall Street Zen raised shares of Ardagh Metal Packaging from a "hold" rating to a "buy" rating in a research report on Saturday, September 19th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $4.83.

Ardagh Metal Packaging Stock Performance

The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 77.10, a PEG ratio of 0.77 and a beta of 0.50. The business's 50-day moving average is $4.81 and its 200-day moving average is $4.47.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.57 billion. Ardagh Metal Packaging had a net margin of 0.68% and a negative return on equity of 27.93%. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 earnings per share. Equities research analysts expect that Ardagh Metal Packaging S.A. will post 0.28 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 8.6%. The ex-dividend date of this dividend was Thursday, September 10th. Ardagh Metal Packaging's payout ratio is presently 666.67%.

Institutional Investors Weigh In On Ardagh Metal Packaging

A number of large investors have recently bought and sold shares of AMBP. Weiss Asset Management LP raised its holdings in shares of Ardagh Metal Packaging by 11,276.2% in the first quarter. Weiss Asset Management LP now owns 4,516,338 shares of the company's stock valued at $18,291,000 after buying an additional 4,476,638 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Ardagh Metal Packaging by 28.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,269,861 shares of the company's stock worth $13,243,000 after buying an additional 722,974 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Ardagh Metal Packaging by 20.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,637,767 shares of the company's stock worth $18,779,000 after buying an additional 801,019 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Ardagh Metal Packaging by 31.9% during the 1st quarter. Renaissance Technologies LLC now owns 2,894,210 shares of the company's stock worth $11,722,000 after acquiring an additional 699,478 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Ardagh Metal Packaging by 139.6% during the 1st quarter. Bank of America Corp DE now owns 249,581 shares of the company's stock worth $1,011,000 after acquiring an additional 145,418 shares during the last quarter. 16.93% of the stock is currently owned by institutional investors.

Ardagh Metal Packaging Company Profile

Ardagh Metal Packaging SA NYSE: AMBP is a global supplier of sustainable metal packaging for beverage manufacturers. The company produces aluminum and steel beverage cans, can ends and specialty containers used for products including carbonated soft drinks, beer, energy drinks and other ready-to-drink beverages.

Ardagh Metal Packaging serves major beverage companies and brand owners through manufacturing operations in Europe, North America and Brazil. Its products are designed to support brand differentiation, convenient consumption and the circular-economy benefits of metal packaging, which can be recycled repeatedly without losing its essential properties.

The company was formed from the beverage can business of Ardagh Group and became a publicly traded company in 2021 through a business combination with Gores Holdings V.

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