Ardagh Metal Packaging (NYSE:AMBP) Trading 7% Higher After Strong Earnings

Ardagh Metal Packaging S.A. (NYSE:AMBP) shot up 7% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $3.11 and last traded at $3.12. 1,830,507 shares changed hands during trading, an increase of 41% from the average session volume of 1,302,372 shares. The stock had previously closed at $2.91.

The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 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 $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion.

Ardagh Metal Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.40 dividend on an annualized basis and a yield of 14.01%. Ardagh Metal Packaging’s payout ratio is currently -333.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wells Fargo & Company restated an “equal weight” rating and issued a $3.35 price objective (down previously from $3.60) on shares of Ardagh Metal Packaging in a report on Thursday, January 16th. Citigroup decreased their price objective on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley upgraded Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $3.60 to $3.10 in a report on Monday, January 13th. Bank of America downgraded Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and cut their target price for the stock from $4.90 to $4.00 in a research note on Wednesday, December 11th. Finally, UBS Group cut their target price on Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating for the company in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.44.

Institutional Trading of Ardagh Metal Packaging

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC increased its position in shares of Ardagh Metal Packaging by 0.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 641,868 shares of the company’s stock worth $2,420,000 after purchasing an additional 3,290 shares during the last quarter. Marshall Wace LLP increased its position in shares of Ardagh Metal Packaging by 2.4% during the 4th quarter. Marshall Wace LLP now owns 171,277 shares of the company’s stock worth $516,000 after purchasing an additional 3,970 shares during the last quarter. Dakota Wealth Management increased its position in shares of Ardagh Metal Packaging by 2.8% during the 4th quarter. Dakota Wealth Management now owns 146,682 shares of the company’s stock worth $442,000 after purchasing an additional 4,030 shares during the last quarter. EP Wealth Advisors LLC increased its position in shares of Ardagh Metal Packaging by 9.5% during the 4th quarter. EP Wealth Advisors LLC now owns 54,647 shares of the company’s stock worth $164,000 after purchasing an additional 4,731 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in shares of Ardagh Metal Packaging by 3.7% during the 4th quarter. Gabelli Funds LLC now owns 139,000 shares of the company’s stock worth $418,000 after purchasing an additional 5,000 shares during the last quarter. 16.93% of the stock is owned by institutional investors and hedge funds.

Ardagh Metal Packaging Stock Performance

The business has a 50-day moving average of $2.80 and a 200-day moving average of $3.34. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -23.79, a P/E/G ratio of 0.54 and a beta of 0.64.

Ardagh Metal Packaging Company Profile

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.