Ardagh Metal Packaging (NYSE:AMBP) Sets New 52-Week Low – Here’s Why

Ardagh Metal Packaging S.A. (NYSE:AMBP)’s share price hit a new 52-week low on Thursday . The company traded as low as $2.68 and last traded at $2.73, with a volume of 1827950 shares trading hands. The stock had previously closed at $2.75.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AMBP shares. Wells Fargo & Company cut their price target on Ardagh Metal Packaging from $5.00 to $3.60 and set an “overweight” rating on the stock in a research note on Monday. Citigroup decreased their price objective 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. Finally, Bank of America lowered 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 report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Ardagh Metal Packaging presently has an average rating of “Hold” and an average target price of $3.59.

Ardagh Metal Packaging Price Performance

The stock has a market capitalization of $1.63 billion, a P/E ratio of -22.75, a price-to-earnings-growth ratio of 0.79 and a beta of 0.65. The business’s 50 day simple moving average is $3.39 and its two-hundred day simple moving average is $3.53. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 124.21.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company posted $0.06 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 14.65%. The ex-dividend date of this dividend was Thursday, December 5th. Ardagh Metal Packaging’s payout ratio is currently -333.33%.

Institutional Investors Weigh In On Ardagh Metal Packaging

A number of hedge funds have recently modified their holdings of AMBP. Ballentine Partners LLC bought a new position in shares of Ardagh Metal Packaging during the third quarter valued at $42,000. Quarry LP bought a new position in shares of Ardagh Metal Packaging in the second quarter worth about $45,000. nVerses Capital LLC raised its stake in Ardagh Metal Packaging by 70.4% during the 3rd 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. Principal Financial Group Inc. boosted its position in shares of Ardagh Metal Packaging by 34.5% in the second quarter. Principal Financial Group Inc. now owns 19,521 shares of the company’s stock worth $66,000 after purchasing an additional 5,009 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Ardagh Metal Packaging by 23.1% in the third quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock worth $71,000 after purchasing an additional 3,515 shares in the last quarter. 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.