Citigroup Cuts Ardagh Metal Packaging (NYSE:AMBP) Price Target to $4.00

Ardagh Metal Packaging (NYSE:AMBP) had its price target cut by Citigroup from $4.50 to $4.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company lowered their target price on Ardagh Metal Packaging from $5.00 to $3.60 and set an “overweight” rating for the company in a research note on Monday. Bank of America lowered Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and lowered their price target for the company from $4.90 to $4.00 in a research report on Wednesday, December 11th. Two 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.59.

Ardagh Metal Packaging Trading Down 0.7 %

NYSE AMBP opened at $2.73 on Monday. Ardagh Metal Packaging has a 1-year low of $2.68 and a 1-year high of $4.26. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 124.21. The stock has a 50-day moving average of $3.39 and a 200-day moving average of $3.53. The firm has a market cap of $1.63 billion, a PE ratio of -22.75, a price-to-earnings-growth ratio of 0.79 and a beta of 0.65.

Ardagh Metal Packaging (NYSE:AMBP) last released 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 positive return on equity of 1,760.00% and a negative net margin of 0.99%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the company posted $0.06 EPS. Ardagh Metal Packaging’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that Ardagh Metal Packaging will post 0.16 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 14.65%. The ex-dividend date was Thursday, December 5th. Ardagh Metal Packaging’s dividend payout ratio is currently -333.33%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ballentine Partners LLC bought a new position in shares of Ardagh Metal Packaging in the 3rd quarter worth approximately $42,000. Quarry LP bought a new position in shares of Ardagh Metal Packaging in the 2nd quarter worth approximately $45,000. nVerses Capital LLC raised its position in shares of Ardagh Metal Packaging by 70.4% in the 3rd quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $46,000 after acquiring an additional 5,000 shares in the last quarter. Principal Financial Group Inc. raised its position 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 acquiring an additional 5,009 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Ardagh Metal Packaging by 23.1% in the 3rd quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock worth $71,000 after acquiring an additional 3,515 shares in the last quarter. Institutional investors own 16.93% of the company’s stock.

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.