Ardagh Metal Packaging (NYSE:AMBP) Given New $5.00 Price Target at Citigroup

Ardagh Metal Packaging (NYSE:AMBP) had its price target raised by Citigroup from $4.00 to $5.00 in a research note published on Thursday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Separately, 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 report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Ardagh Metal Packaging currently has a consensus rating of “Hold” and a consensus target price of $3.84.

Ardagh Metal Packaging Stock Performance

Shares of AMBP stock opened at $4.53 on Thursday. The stock’s fifty day moving average is $3.96 and its two-hundred day moving average is $3.22. The firm has a market capitalization of $2.70 billion, a P/E ratio of -113.13, a PEG ratio of 1.33 and a beta of 0.56. Ardagh Metal Packaging has a fifty-two week low of $2.50 and a fifty-two week high of $4.53.

Ardagh Metal Packaging (NYSE:AMBP) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.17 billion. Ardagh Metal Packaging had a negative return on equity of 112.58% and a net margin of 0.08%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 EPS. On average, equities analysts forecast that Ardagh Metal Packaging will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.40 annualized dividend and a dividend yield of 8.84%. Ardagh Metal Packaging’s dividend payout ratio is presently -1,000.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ardagh Metal Packaging by 172.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,324,218 shares of the company’s stock worth $28,159,000 after acquiring an additional 5,902,246 shares during the period. Private Management Group Inc. raised its holdings in shares of Ardagh Metal Packaging by 4.8% during the 1st quarter. Private Management Group Inc. now owns 5,690,572 shares of the company’s stock worth $17,186,000 after acquiring an additional 258,298 shares during the period. Diameter Capital Partners LP raised its holdings in shares of Ardagh Metal Packaging by 10.1% during the 4th quarter. Diameter Capital Partners LP now owns 4,374,121 shares of the company’s stock worth $13,166,000 after acquiring an additional 400,000 shares during the period. Anchorage Capital Advisors L.P. raised its holdings in shares of Ardagh Metal Packaging by 85.9% during the 1st quarter. Anchorage Capital Advisors L.P. now owns 3,601,083 shares of the company’s stock worth $10,875,000 after acquiring an additional 1,664,083 shares during the period. Finally, Solas Capital Management LLC raised its holdings in shares of Ardagh Metal Packaging by 10.9% during the 4th quarter. Solas Capital Management LLC now owns 3,361,378 shares of the company’s stock worth $10,118,000 after acquiring an additional 330,000 shares during the period. Hedge funds and other 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.