Ardagh Metal Packaging (NYSE:AMBP) Hits New 1-Year Low - Here's Why

Ardagh Metal Packaging S.A. (NYSE:AMBP - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $3.10 and last traded at $3.12, with a volume of 360138 shares. The stock had previously closed at $3.15.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Ardagh Metal Packaging from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $4.25 to $5.00 in a research note on Tuesday, October 15th. Citigroup increased their target price on Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. Finally, Bank of America lowered Ardagh Metal Packaging from a "buy" rating to an "underperform" rating and reduced their target price for the stock from $4.90 to $4.00 in a report on Wednesday, December 11th. Two equities 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $3.92.

Ardagh Metal Packaging Trading Down 3.5 %

The company has a debt-to-equity ratio of 124.21, a current ratio of 1.17 and a quick ratio of 0.88. The stock's 50-day moving average is $3.69 and its two-hundred day moving average is $3.62. The company has a market cap of $1.82 billion, a P/E ratio of -25.33, a P/E/G ratio of 0.78 and a beta of 0.61.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 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 $1.31 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the firm earned $0.06 EPS. The company's revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 13.16%. Ardagh Metal Packaging's payout ratio is -333.33%.

Institutional Trading of Ardagh Metal Packaging

Several large investors have recently added to or reduced their stakes in AMBP. Citigroup Inc. raised its position in Ardagh Metal Packaging by 15,834.1% in the third quarter. Citigroup Inc. now owns 5,104,806 shares of the company's stock worth $19,245,000 after acquiring an additional 5,072,769 shares during the period. King Street Capital Management L.P. bought a new position in Ardagh Metal Packaging in the 2nd quarter worth $14,790,000. Squarepoint Ops LLC lifted its position in Ardagh Metal Packaging by 523.8% during the second quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company's stock valued at $10,568,000 after purchasing an additional 2,446,997 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Ardagh Metal Packaging by 37.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,778,166 shares of the company's stock valued at $6,704,000 after purchasing an additional 489,146 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Ardagh Metal Packaging by 48.7% during the second quarter. Renaissance Technologies LLC now owns 1,325,132 shares of the company's stock valued at $4,505,000 after purchasing an additional 433,700 shares during the period. 16.93% of the stock is currently 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.