Ardagh Metal Packaging (NYSE:AMBP) Reaches New 12-Month High – Still a Buy?

Ardagh Metal Packaging S.A. (NYSE:AMBP)’s share price hit a new 52-week high on Monday . The stock traded as high as $4.58 and last traded at $4.56, with a volume of 455115 shares trading hands. The stock had previously closed at $4.51.

Wall Street Analyst Weigh In

AMBP has been the subject of a number of research reports. Morgan Stanley raised their price objective on Ardagh Metal Packaging from $3.50 to $4.10 and gave the stock an “equal weight” rating in a research report on Wednesday, June 25th. Citigroup lifted their price objective on Ardagh Metal Packaging from $4.00 to $5.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Ardagh Metal Packaging has an average rating of “Hold” and a consensus target price of $3.84.

Ardagh Metal Packaging Trading Up 0.8%

The company has a market cap of $2.72 billion, a P/E ratio of -113.63, a PEG ratio of 1.35 and a beta of 0.56. The business has a 50 day moving average price of $3.98 and a 200-day moving average price of $3.23.

Ardagh Metal Packaging (NYSE:AMBP) last released its earnings results on Thursday, April 24th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. Ardagh Metal Packaging had a negative return on equity of 112.58% and a net margin of 0.08%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm posted $0.01 EPS. Ardagh Metal Packaging’s quarterly revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts expect that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a dividend of $0.10 per share. The ex-dividend date was Monday, May 5th. This represents a $0.40 annualized dividend and a dividend yield of 8.80%. Ardagh Metal Packaging’s dividend payout ratio is currently -1,000.00%.

Hedge Funds Weigh In On Ardagh Metal Packaging

Several large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in Ardagh Metal Packaging by 2.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 137,503 shares of the company’s stock valued at $415,000 after purchasing an additional 3,320 shares during the last quarter. Marshall Wace LLP increased its holdings in Ardagh Metal Packaging by 2.4% in the fourth quarter. Marshall Wace LLP now owns 171,277 shares of the company’s stock worth $516,000 after purchasing an additional 3,970 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in Ardagh Metal Packaging by 9.5% in the fourth 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 in the last quarter. Gabelli Funds LLC increased its holdings in Ardagh Metal Packaging by 3.7% in the fourth quarter. Gabelli Funds LLC now owns 139,000 shares of the company’s stock worth $418,000 after purchasing an additional 5,000 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Ardagh Metal Packaging by 6.1% in the fourth quarter. MetLife Investment Management LLC now owns 90,709 shares of the company’s stock worth $273,000 after purchasing an additional 5,218 shares in the last quarter. 16.93% of the stock is currently owned by institutional investors.

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.