Ardagh Metal Packaging (NYSE:AMBP) Shares Gap Down – Here’s Why

Ardagh Metal Packaging S.A. (NYSE:AMBP)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $3.47, but opened at $3.40. Ardagh Metal Packaging shares last traded at $3.29, with a volume of 326,967 shares changing hands.

Wall Street Analyst Weigh In

AMBP has been the subject of several research analyst reports. Citigroup lifted their price objective on Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Bank of America lowered shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $4.90 to $4.00 in a research note on Wednesday. Finally, Wells Fargo & Company upgraded shares of Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $4.25 to $5.00 in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.92.

Ardagh Metal Packaging Trading Down 5.2 %

The stock has a 50-day moving average price of $3.74 and a two-hundred day moving average price of $3.65. The stock has a market capitalization of $1.97 billion, a PE ratio of -27.00, a PEG ratio of 0.84 and a beta of 0.61. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.88 and a current ratio of 1.17.

Ardagh Metal Packaging (NYSE:AMBP) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 earnings per share. As a group, equities analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 12.16%. The ex-dividend date of this dividend is Thursday, December 5th. Ardagh Metal Packaging’s dividend payout ratio (DPR) is -333.33%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMBP. Geode Capital Management LLC raised its position in shares of Ardagh Metal Packaging by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,784,882 shares of the company’s stock valued at $6,729,000 after buying an additional 11,963 shares during the last quarter. XTX Topco Ltd bought a new stake in Ardagh Metal Packaging in the 3rd quarter valued at $389,000. EP Wealth Advisors LLC lifted its stake in Ardagh Metal Packaging by 99.0% in the 3rd quarter. EP Wealth Advisors LLC now owns 49,916 shares of the company’s stock worth $188,000 after purchasing an additional 24,832 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Ardagh Metal Packaging by 99.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 284,375 shares of the company’s stock valued at $1,072,000 after purchasing an additional 141,850 shares during the last quarter. Finally, Millburn Ridgefield Corp purchased a new position in shares of Ardagh Metal Packaging during the third quarter valued at about $124,000. 16.93% of the stock is owned by hedge funds and other institutional investors.

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.