Ardagh Metal Packaging (NYSE:AMBP) Shares Up 4% on Strong Earnings

Ardagh Metal Packaging S.A. (NYSE:AMBP) shares rose 4% during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $3.75 and last traded at $3.75. Approximately 646,396 shares were traded during mid-day 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 (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%.

Ardagh Metal Packaging Dividend Announcement

The company 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 10.61%. The ex-dividend date of this dividend is Monday, May 5th. Ardagh Metal Packaging’s dividend payout ratio is currently -1,000.00%.

Analyst Ratings Changes

Several research firms have issued reports on AMBP. Wells Fargo & Company reiterated an “equal weight” rating and set a $3.35 price objective (down from $3.60) on shares of Ardagh Metal Packaging in a research note on Thursday, January 16th. Morgan Stanley upgraded Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $3.60 to $3.10 in a report on Monday, January 13th. UBS Group decreased their price target on Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Citigroup dropped their price objective on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating on the stock in a research note 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 given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $3.44.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Anchorage Capital Advisors L.P. acquired a new stake in shares of Ardagh Metal Packaging during the fourth quarter worth $5,830,000. King Street Capital Management L.P. lifted its holdings in shares of Ardagh Metal Packaging by 155.0% in the 4th quarter. King Street Capital Management L.P. now owns 2,550,000 shares of the company’s stock worth $7,676,000 after purchasing an additional 1,550,000 shares during the last quarter. CenterBook Partners LP boosted its position in Ardagh Metal Packaging by 161.0% during the 4th quarter. CenterBook Partners LP now owns 2,370,730 shares of the company’s stock valued at $7,136,000 after purchasing an additional 1,462,548 shares during the period. Mountaineer Partners Management LLC bought a new position in Ardagh Metal Packaging during the 4th quarter worth $3,184,000. Finally, JPMorgan Chase & Co. lifted its stake in Ardagh Metal Packaging by 205.1% in the fourth quarter. JPMorgan Chase & Co. now owns 600,917 shares of the company’s stock valued at $1,809,000 after buying an additional 403,938 shares during the last quarter. Institutional investors and hedge funds own 16.93% of the company’s stock.

Ardagh Metal Packaging Price Performance

The company has a market cap of $2.25 billion, a price-to-earnings ratio of -31.41, a P/E/G ratio of 0.54 and a beta of 0.54. The firm’s fifty day moving average price is $2.85 and its 200-day moving average price is $3.13.

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.