Ardagh Metal Packaging (NYSE:AMBP) Shares Up 7% on Strong Earnings

Ardagh Metal Packaging S.A. (NYSE:AMBP) shares shot up 7% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $3.11 and last traded at $3.12. 1,830,507 shares traded hands during mid-day trading, an increase of 41% from the average session volume of 1,302,372 shares. The stock had previously closed at $2.91.

The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%.

Ardagh Metal Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 12.92%. Ardagh Metal Packaging’s payout ratio is -333.33%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group reduced their target price on shares of Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating for the company in a report on Friday, January 10th. Morgan Stanley upgraded shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $3.60 to $3.10 in a report on Monday, January 13th. Bank of America cut shares of 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. Wells Fargo & Company restated an “equal weight” rating and set a $3.35 target price (down previously from $3.60) on shares of Ardagh Metal Packaging in a report on Thursday, January 16th. Finally, Citigroup reduced their target price 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.44.

Institutional Trading of Ardagh Metal Packaging

Large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new stake in Ardagh Metal Packaging in the fourth quarter valued at $30,000. Tower Research Capital LLC TRC raised its position in shares of Ardagh Metal Packaging by 292.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,975 shares of the company’s stock valued at $33,000 after purchasing an additional 8,180 shares during the period. Cibc World Markets Corp bought a new position in shares of Ardagh Metal Packaging in the fourth quarter valued at about $41,000. Xponance Inc. bought a new position in shares of Ardagh Metal Packaging in the fourth quarter valued at about $41,000. Finally, Ballentine Partners LLC bought a new position in shares of Ardagh Metal Packaging in the third quarter valued at about $42,000. Institutional investors and hedge funds own 16.93% of the company’s stock.

Ardagh Metal Packaging Price Performance

The company has a market capitalization of $1.85 billion, a P/E ratio of -25.87, a price-to-earnings-growth ratio of 0.54 and a beta of 0.64. The company’s 50-day moving average price is $2.80 and its two-hundred day moving average price is $3.34.

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.