Morgan Stanley Issues Positive Forecast for Ardagh Metal Packaging (NYSE:AMBP) Stock Price

Ardagh Metal Packaging (NYSE:AMBP) had its price objective increased by Morgan Stanley from $3.50 to $4.10 in a research report sent to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Ardagh Metal Packaging Stock Performance

Shares of NYSE AMBP opened at $4.30 on Wednesday. Ardagh Metal Packaging has a fifty-two week low of $2.50 and a fifty-two week high of $4.36. The company has a 50 day simple moving average of $3.85 and a two-hundred day simple moving average of $3.19. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -107.38, a P/E/G ratio of 1.30 and a beta of 0.53.

Ardagh Metal Packaging (NYSE:AMBP) last announced its earnings results on Thursday, April 24th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Ardagh Metal Packaging had a net margin of 0.08% and a negative return on equity of 112.58%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm earned $0.01 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, analysts forecast that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.31%. The ex-dividend date was Monday, May 5th. Ardagh Metal Packaging’s dividend payout ratio is -1,000.00%.

Hedge Funds Weigh In On Ardagh Metal Packaging

A number of institutional investors and hedge funds have recently made changes to their positions in AMBP. SBI Securities Co. Ltd. increased its position in shares of Ardagh Metal Packaging by 140.6% during the first quarter. SBI Securities Co. Ltd. now owns 9,173 shares of the company’s stock valued at $28,000 after acquiring an additional 5,361 shares in the last quarter. Larson Financial Group LLC bought a new stake in shares of Ardagh Metal Packaging during the fourth quarter valued at approximately $30,000. Tower Research Capital LLC TRC increased its position in shares of Ardagh Metal Packaging by 292.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,975 shares of the company’s stock valued at $33,000 after acquiring an additional 8,180 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Ardagh Metal Packaging during the first quarter valued at approximately $33,000. Finally, Xponance Inc. bought a new stake in shares of Ardagh Metal Packaging during the fourth quarter valued at approximately $41,000. Institutional investors own 16.93% of the company’s stock.

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.