Ardagh Metal Packaging (NYSE:AMBP) Lowered to Underperform Rating by Bank of America

Bank of America downgraded shares of Ardagh Metal Packaging (NYSE:AMBP) from a buy rating to an underperform rating in a research note released on Wednesday, Marketbeat reports. Bank of America currently has $4.00 price target on the stock, down from their previous price target of $4.90.

A number of other analysts have also issued reports on the stock. Citigroup raised their target price on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $4.25 to $5.00 in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.92.

Ardagh Metal Packaging Stock Down 0.5 %

Shares of NYSE:AMBP opened at $3.21 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 124.21. The company has a market capitalization of $1.92 billion, a P/E ratio of -26.71, a P/E/G ratio of 0.78 and a beta of 0.61. Ardagh Metal Packaging has a 52-week low of $3.15 and a 52-week high of $4.26. The stock’s fifty day simple moving average is $3.71 and its 200-day simple moving average is $3.64.

Ardagh Metal Packaging (NYSE:AMBP) last released its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 12.48%. Ardagh Metal Packaging’s dividend payout ratio (DPR) is presently -333.31%.

Institutional Investors Weigh In On Ardagh Metal Packaging

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Ardagh Metal Packaging by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,784,882 shares of the company’s stock valued at $6,729,000 after buying an additional 11,963 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Ardagh Metal Packaging in the 3rd quarter valued at $389,000. EP Wealth Advisors LLC lifted its holdings in shares of Ardagh Metal Packaging by 99.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 49,916 shares of the company’s stock valued at $188,000 after acquiring an additional 24,832 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Ardagh Metal Packaging by 99.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 284,375 shares of the company’s stock valued at $1,072,000 after acquiring an additional 141,850 shares in the last quarter. Finally, Millburn Ridgefield Corp purchased a new stake in Ardagh Metal Packaging during the 3rd quarter worth $124,000. Hedge funds and other 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.