Ardagh Metal Packaging (NYSE:AMBP) Shares Gap Down – Here’s What Happened

Ardagh Metal Packaging S.A. (NYSE:AMBP)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $2.84, but opened at $2.75. Ardagh Metal Packaging shares last traded at $2.70, with a volume of 155,529 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $3.35 target price (down previously from $3.60) on shares of Ardagh Metal Packaging in a research report on Thursday. Morgan Stanley raised Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $3.60 to $3.10 in a research report on Monday. Bank of America downgraded Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and lowered their target price for the company from $4.90 to $4.00 in a research report on Wednesday, December 11th. UBS Group lowered their target price 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. Finally, Citigroup lowered their target price on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.37.

Ardagh Metal Packaging Price Performance

The business has a 50-day simple moving average of $3.30 and a two-hundred day simple moving average of $3.51. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -23.00, a P/E/G ratio of 0.50 and a beta of 0.65.

Ardagh Metal Packaging (NYSE:AMBP) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.34 billion. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 earnings per share. As a group, equities analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 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 14.49%. The ex-dividend date of this dividend was Thursday, December 5th. Ardagh Metal Packaging’s dividend payout ratio is presently -333.31%.

Institutional Investors Weigh In On Ardagh Metal Packaging

A number of institutional investors have recently made changes to their positions in AMBP. Ballentine Partners LLC bought a new stake in shares of Ardagh Metal Packaging during the third quarter worth approximately $42,000. Quarry LP bought a new stake in shares of Ardagh Metal Packaging during the second quarter worth approximately $45,000. nVerses Capital LLC boosted its holdings in shares of Ardagh Metal Packaging by 70.4% during the third quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $46,000 after acquiring an additional 5,000 shares during the period. Signaturefd LLC boosted its holdings in shares of Ardagh Metal Packaging by 23.1% during the third quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock worth $71,000 after acquiring an additional 3,515 shares during the period. Finally, Dark Forest Capital Management LP bought a new stake in shares of Ardagh Metal Packaging in the second quarter valued at approximately $113,000. Institutional investors own 16.93% of the company’s stock.

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.