UBS Group Cuts Ardagh Metal Packaging (NYSE:AMBP) Price Target to $2.75

Ardagh Metal Packaging (NYSE:AMBP) had its price objective lowered by UBS Group from $4.25 to $2.75 in a report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the stock. Citigroup dropped their price objective on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company lowered their price target on Ardagh Metal Packaging from $5.00 to $3.60 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Bank of America lowered Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and decreased their target price for the company from $4.90 to $4.00 in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.43.

Ardagh Metal Packaging Price Performance

NYSE:AMBP opened at $2.67 on Friday. The business’s 50-day moving average is $3.35 and its 200 day moving average is $3.52. Ardagh Metal Packaging has a 12 month low of $2.66 and a 12 month high of $4.26. The company has a market capitalization of $1.60 billion, a P/E ratio of -22.25, a P/E/G ratio of 0.79 and a beta of 0.65. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 124.21.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, topping 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 business 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 for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts forecast that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 14.98%. The ex-dividend date was Thursday, December 5th. Ardagh Metal Packaging’s dividend payout ratio is currently -333.33%.

Hedge Funds Weigh In On Ardagh Metal Packaging

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in shares of Ardagh Metal Packaging by 58.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 493,197 shares of the company’s stock valued at $1,677,000 after acquiring an additional 182,906 shares during the period. Principal Financial Group Inc. boosted its position in Ardagh Metal Packaging by 34.5% during the second 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. Rhumbline Advisers grew its holdings in Ardagh Metal Packaging by 11.5% in the second quarter. Rhumbline Advisers now owns 165,578 shares of the company’s stock valued at $563,000 after purchasing an additional 17,104 shares during the period. American Century Companies Inc. increased its position in shares of Ardagh Metal Packaging by 14.3% in the second quarter. American Century Companies Inc. now owns 215,156 shares of the company’s stock valued at $732,000 after buying an additional 26,865 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Ardagh Metal Packaging by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 749,853 shares of the company’s stock valued at $2,550,000 after buying an additional 15,637 shares in the last quarter. 16.93% of the stock is owned by hedge funds and other institutional investors.

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.