Ardagh Metal Packaging (NYSE:AMBP) Given New $2.75 Price Target at UBS Group

Ardagh Metal Packaging (NYSE:AMBP) had its price target trimmed by UBS Group from $4.25 to $2.75 in a report issued on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also recently issued reports on AMBP. Wells Fargo & Company lowered their price objective on shares of Ardagh Metal Packaging from $5.00 to $3.60 and set an “overweight” rating for the company in a research report on Monday, January 6th. Citigroup lowered 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, January 6th. Finally, Bank of America cut shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and decreased their price target for the company from $4.90 to $4.00 in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $3.43.

Ardagh Metal Packaging Stock Performance

Shares of Ardagh Metal Packaging stock opened at $2.67 on Friday. The company has a 50 day moving average of $3.35 and a 200-day moving average of $3.52. Ardagh Metal Packaging has a 1-year low of $2.66 and a 1-year high of $4.26. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 124.21. The company has a market cap of $1.60 billion, a PE ratio of -22.25, a price-to-earnings-growth ratio of 0.79 and a beta of 0.65.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 EPS. As a group, equities research analysts forecast that Ardagh Metal Packaging 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 given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 14.98%. The ex-dividend date of this dividend was Thursday, December 5th. Ardagh Metal Packaging’s dividend payout ratio (DPR) is presently -333.33%.

Institutional Investors Weigh In On Ardagh Metal Packaging

Several large investors have recently modified their holdings of AMBP. Bank of New York Mellon Corp increased its position in shares of Ardagh Metal Packaging by 58.9% during the second quarter. Bank of New York Mellon Corp now owns 493,197 shares of the company’s stock worth $1,677,000 after buying an additional 182,906 shares during the period. Principal Financial Group Inc. increased its position in shares of Ardagh Metal Packaging by 34.5% during the second quarter. Principal Financial Group Inc. now owns 19,521 shares of the company’s stock worth $66,000 after buying an additional 5,009 shares during the period. Rhumbline Advisers increased its position in shares of Ardagh Metal Packaging by 11.5% during the second quarter. Rhumbline Advisers now owns 165,578 shares of the company’s stock worth $563,000 after buying an additional 17,104 shares during the period. American Century Companies Inc. increased its position in shares of Ardagh Metal Packaging by 14.3% during the second quarter. American Century Companies Inc. now owns 215,156 shares of the company’s stock worth $732,000 after buying an additional 26,865 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Ardagh Metal Packaging by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 749,853 shares of the company’s stock worth $2,550,000 after buying an additional 15,637 shares during the period. 16.93% of the stock is currently owned by institutional investors and hedge funds.

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.