Ardagh Metal Packaging (NYSE:AMBP) Price Target Lowered to $4.00 at Citigroup

Ardagh Metal Packaging (NYSE:AMBP) had its price target cut by Citigroup from $4.50 to $4.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on the company. Wells Fargo & Company lowered their price target on Ardagh Metal Packaging from $5.00 to $3.60 and set an “overweight” rating for the company in a research report on Monday. Bank of America cut shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $4.90 to $4.00 in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $3.65.

Ardagh Metal Packaging Price Performance

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

Ardagh Metal Packaging (NYSE:AMBP) last issued its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. On average, equities analysts anticipate that Ardagh Metal Packaging will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 13.75%. The ex-dividend date was Thursday, December 5th. Ardagh Metal Packaging’s dividend payout ratio is currently -333.33%.

Hedge Funds Weigh In On Ardagh Metal Packaging

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. grew its holdings in shares of Ardagh Metal Packaging by 15,834.1% during the third quarter. Citigroup Inc. now owns 5,104,806 shares of the company’s stock valued at $19,245,000 after buying an additional 5,072,769 shares during the last quarter. King Street Capital Management L.P. acquired a new stake in Ardagh Metal Packaging during the 2nd quarter worth about $14,790,000. Squarepoint Ops LLC grew its stake in Ardagh Metal Packaging by 523.8% during the 2nd quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company’s stock valued at $10,568,000 after purchasing an additional 2,446,997 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Ardagh Metal Packaging by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,784,882 shares of the company’s stock valued at $6,729,000 after purchasing an additional 11,963 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Ardagh Metal Packaging by 37.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,778,166 shares of the company’s stock worth $6,704,000 after purchasing an additional 489,146 shares during the last quarter. 16.93% of the stock is owned by hedge funds and other institutional investors.

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.