Ardagh Metal Packaging (NYSE:AMBP) Price Target Cut to $3.60 by Analysts at Wells Fargo & Company

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

A number of other analysts also recently issued reports on AMBP. Citigroup increased 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. Bank of America lowered shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $4.90 to $4.00 in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Ardagh Metal Packaging presently has a consensus rating of “Hold” and a consensus price target of $3.65.

Ardagh Metal Packaging Stock Performance

Shares of AMBP opened at $2.91 on Monday. Ardagh Metal Packaging has a 1 year low of $2.89 and a 1 year high of $4.26. The company’s 50 day simple moving average is $3.43 and its 200 day simple moving average is $3.54. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -24.25, a PEG ratio of 0.79 and a beta of 0.65. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.88 and a current ratio of 1.17.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 EPS. On average, sell-side analysts predict that Ardagh Metal Packaging will post 0.16 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 13.75%. Ardagh Metal Packaging’s dividend payout ratio (DPR) is presently -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. Bank of New York Mellon Corp boosted its position in Ardagh Metal Packaging by 58.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 493,197 shares of the company’s stock valued at $1,677,000 after buying an additional 182,906 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Ardagh Metal Packaging by 34.5% in the second quarter. Principal Financial Group Inc. now owns 19,521 shares of the company’s stock valued at $66,000 after purchasing an additional 5,009 shares during the last quarter. Rhumbline Advisers grew its stake in Ardagh Metal Packaging by 11.5% during the 2nd quarter. Rhumbline Advisers now owns 165,578 shares of the company’s stock valued at $563,000 after purchasing an additional 17,104 shares in the last quarter. Oak Thistle LLC purchased a new stake in Ardagh Metal Packaging during the 2nd quarter worth approximately $220,000. Finally, American Century Companies Inc. increased its holdings in Ardagh Metal Packaging by 14.3% during the 2nd quarter. American Century Companies Inc. now owns 215,156 shares of the company’s stock worth $732,000 after purchasing an additional 26,865 shares during the last quarter. 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.