Ardagh Metal Packaging (NYSE:AMBP) Shares Up 4% After Earnings Beat

Ardagh Metal Packaging S.A. (NYSE:AMBP - Get Free Report)'s share price was up 4% during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $3.75 and last traded at $3.75. Approximately 646,396 shares traded hands during trading, a decline of 57% from the average daily volume of 1,508,158 shares. The stock had previously closed at $3.60.

The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.17 billion. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%.

Ardagh Metal Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 10.60%. Ardagh Metal Packaging's dividend payout ratio is currently -800.00%.

Wall Street Analysts Forecast Growth

AMBP has been the subject of a number of research analyst reports. Morgan Stanley upgraded shares of Ardagh Metal Packaging from an "underweight" rating to an "equal weight" rating and reduced their price target for the stock from $3.60 to $3.10 in a research report on Monday, January 13th. Citigroup lowered their price target on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a "buy" rating for the company in a report on Monday, January 6th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $3.35 price objective (down from $3.60) on shares of Ardagh Metal Packaging in a research report on Thursday, January 16th. Finally, UBS Group dropped their target price on Ardagh Metal Packaging from $4.25 to $2.75 and set a "neutral" rating for the company in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $3.44.

Institutional Trading of Ardagh Metal Packaging

Several hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC bought a new position in Ardagh Metal Packaging during the 4th quarter worth about $30,000. Tower Research Capital LLC TRC boosted 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 worth $33,000 after buying an additional 8,180 shares during the period. Xponance Inc. bought a new position in shares of Ardagh Metal Packaging during the fourth quarter worth about $41,000. Cibc World Markets Corp acquired a new stake in Ardagh Metal Packaging in the 4th quarter valued at approximately $41,000. Finally, Aigen Investment Management LP acquired a new position in Ardagh Metal Packaging during the 4th quarter worth approximately $42,000. 16.93% of the stock is currently owned by institutional investors and hedge funds.

Ardagh Metal Packaging Stock Up 4.9 %

The stock's fifty day moving average is $2.83 and its two-hundred day moving average is $3.13. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -31.54, a P/E/G ratio of 0.54 and a beta of 0.54.

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.

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