Wells Fargo & Company Cuts Ardagh Metal Packaging (NYSE:AMBP) Price Target to $3.60

Ardagh Metal Packaging (NYSE:AMBP) had its price target trimmed by Wells Fargo & Company from $5.00 to $3.60 in a research report sent to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. Citigroup increased their price objective on Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Bank of America downgraded Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and cut their target price for the company from $4.90 to $4.00 in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.59.

Ardagh Metal Packaging Stock Performance

Shares of AMBP opened at $2.73 on Monday. Ardagh Metal Packaging has a 12 month low of $2.68 and a 12 month high of $4.26. The stock has a fifty day moving average price of $3.39 and a 200-day moving average price of $3.53. 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 firm has a market cap of $1.63 billion, a PE ratio of -22.75, a P/E/G ratio of 0.79 and a beta of 0.65.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.08 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the business posted $0.06 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts predict 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 announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a $0.10 dividend. This represents a $0.40 annualized dividend 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 -333.33%.

Institutional Investors Weigh In On Ardagh Metal Packaging

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMBP. Ballentine Partners LLC acquired a new stake in Ardagh Metal Packaging during the 3rd quarter worth about $42,000. Quarry LP acquired a new stake in Ardagh Metal Packaging during the 2nd quarter worth about $45,000. nVerses Capital LLC grew its position 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 purchasing an additional 5,000 shares during the period. Principal Financial Group Inc. grew its position in Ardagh Metal Packaging by 34.5% during the 2nd 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 grew its position 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 purchasing an additional 3,515 shares during the period. 16.93% of the stock is 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.