Ardagh Metal Packaging (NYSE:AMBP) Shares Up 7% on Strong Earnings

Ardagh Metal Packaging S.A. (NYSE:AMBP)’s stock price traded up 7% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $3.11 and last traded at $3.12. 1,830,507 shares changed hands during trading, an increase of 41% from the average session volume of 1,302,372 shares. The stock had previously closed at $2.91.

The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%.

Ardagh Metal Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 12.92%. Ardagh Metal Packaging’s dividend payout ratio is -333.33%.

Wall Street Analysts Forecast Growth

AMBP has been the subject of several analyst reports. Wells Fargo & Company restated an “equal weight” rating and issued a $3.35 target price (down from $3.60) on shares of Ardagh Metal Packaging in a research report on Thursday, January 16th. UBS Group dropped their target price on shares of Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating for the company in a research report on Friday, January 10th. Bank of America cut shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and dropped their target price for the company from $4.90 to $4.00 in a research report on Wednesday, December 11th. Citigroup dropped their target price on shares of 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 shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $3.60 to $3.10 in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.44.

Institutional Investors Weigh In On Ardagh Metal Packaging

Several hedge funds and other institutional investors have recently made changes to their positions in AMBP. Creative Planning grew its holdings in shares of Ardagh Metal Packaging by 170.1% during the 3rd quarter. Creative Planning now owns 38,766 shares of the company’s stock valued at $146,000 after purchasing an additional 24,414 shares during the last quarter. Signaturefd LLC grew its holdings in Ardagh Metal Packaging by 23.1% during the 3rd 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 last quarter. Ballentine Partners LLC bought a new stake in Ardagh Metal Packaging during the 3rd quarter worth approximately $42,000. PFG Investments LLC boosted its stake in shares of Ardagh Metal Packaging by 15.4% in the 3rd quarter. PFG Investments LLC now owns 45,634 shares of the company’s stock valued at $172,000 after purchasing an additional 6,092 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Ardagh Metal Packaging by 17.8% in the 3rd quarter. US Bancorp DE now owns 39,978 shares of the company’s stock valued at $151,000 after purchasing an additional 6,031 shares during the last quarter. 16.93% of the stock is owned by institutional investors.

Ardagh Metal Packaging Stock Performance

The stock’s 50 day moving average price is $2.80 and its 200 day moving average price is $3.34. The company has a market capitalization of $1.85 billion, a P/E ratio of -25.87, a price-to-earnings-growth ratio of 0.54 and a beta of 0.64.

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.