Wells Fargo & Company Issues Pessimistic Forecast for Ardagh Metal Packaging (NYSE:AMBP) Stock Price

Ardagh Metal Packaging (NYSE:AMBP - Free Report) had its price objective decreased by Wells Fargo & Company from $5.00 to $3.60 in a research note published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

AMBP has been the topic of a number of other research reports. 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. Citigroup increased their price target on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a "buy" rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $3.65.

Ardagh Metal Packaging Stock Down 2.0 %

Shares of Ardagh Metal Packaging stock traded down $0.06 during trading on Monday, hitting $2.91. The company's stock had a trading volume of 2,427,768 shares, compared to its average volume of 1,617,919. Ardagh Metal Packaging has a 52 week low of $2.89 and a 52 week high of $4.26. The company has a market capitalization of $1.74 billion, a PE ratio of -24.25, a P/E/G ratio of 0.79 and a beta of 0.65. The company has a fifty day simple moving average of $3.45 and a two-hundred day simple moving average of $3.55. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.88 and a current ratio of 1.17.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm earned $0.06 earnings per share. The business's revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts predict that Ardagh Metal Packaging will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 13.75%. The ex-dividend date of this dividend was Thursday, December 5th. Ardagh Metal Packaging's dividend payout ratio (DPR) is presently -333.33%.

Hedge Funds Weigh In On Ardagh Metal Packaging

Several hedge funds and other institutional investors have recently modified their holdings of AMBP. Ballentine Partners LLC bought a new position in shares of Ardagh Metal Packaging in the 3rd quarter worth approximately $42,000. nVerses Capital LLC raised its position in Ardagh Metal Packaging by 70.4% in the third quarter. nVerses Capital LLC now owns 12,100 shares of the company's stock worth $46,000 after acquiring an additional 5,000 shares during the period. Quarry LP purchased a new position in shares of Ardagh Metal Packaging during the 2nd quarter worth $45,000. Signaturefd LLC grew its position in shares of Ardagh Metal Packaging by 23.1% during the 3rd quarter. Signaturefd LLC now owns 18,739 shares of the company's stock valued at $71,000 after acquiring an additional 3,515 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Ardagh Metal Packaging by 34.5% in the 2nd quarter. Principal Financial Group Inc. now owns 19,521 shares of the company's stock worth $66,000 after purchasing an additional 5,009 shares in the last quarter. 16.93% of the stock is owned by 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.