Ardagh Metal Packaging (NYSE:AMBP) Stock Price Down 4.3% – Here’s Why

Ardagh Metal Packaging S.A. (NYSE:AMBP)’s share price was down 4.3% during mid-day trading on Friday . The company traded as low as $4.24 and last traded at $4.1650. Approximately 80,193 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 841,085 shares. The stock had previously closed at $4.35.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AMBP shares. Truist Financial raised their price target on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Tuesday. Raymond James Financial began coverage on shares of Ardagh Metal Packaging in a research note on Wednesday, October 15th. They issued a “market perform” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of Ardagh Metal Packaging in a research report on Wednesday, October 8th. Wells Fargo & Company decreased their target price on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 15th. Finally, Morgan Stanley set a $4.30 price target on Ardagh Metal Packaging in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.38.

Ardagh Metal Packaging Price Performance

The company has a market cap of $2.54 billion, a price-to-earnings ratio of -425.50, a price-to-earnings-growth ratio of 0.98 and a beta of 0.55. The business’s fifty day moving average price is $3.86 and its 200 day moving average price is $3.92.

Ardagh Metal Packaging (NYSE:AMBP) last announced its earnings results on Thursday, October 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.39 billion. Ardagh Metal Packaging had a negative return on equity of 58.16% and a net margin of 0.30%.Ardagh Metal Packaging’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $0.08 EPS. As a group, equities research analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 3rd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date of this dividend was Monday, November 3rd. Ardagh Metal Packaging’s payout ratio is currently -4,000.00%.

Institutional Trading of Ardagh Metal Packaging

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC bought a new position in Ardagh Metal Packaging during the 3rd quarter worth approximately $40,000. Pallas Capital Advisors LLC acquired a new stake in shares of Ardagh Metal Packaging during the second quarter worth $43,000. Dynamic Technology Lab Private Ltd bought a new position in Ardagh Metal Packaging during the first quarter worth $43,000. Capula Management Ltd bought a new position in Ardagh Metal Packaging during the second quarter worth $45,000. Finally, Guardian Capital LP acquired a new position in Ardagh Metal Packaging in the third quarter valued at $46,000. Institutional investors and hedge funds own 16.93% of the company’s stock.

About Ardagh Metal Packaging

Ardagh Metal Packaging (NYSE: AMBP) is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating.

The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.