Ardagh Metal Packaging (NYSE:AMBP) Stock Price Up 4% After Earnings Beat

Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) traded up 4% on Friday following a better than expected earnings announcement. The stock traded as high as $3.75 and last traded at $3.75. 646,396 shares were traded during trading, a decline of 57% from the average session volume of 1,508,158 shares. The stock had previously closed at $3.60.

The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $1.27 billion for 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 declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 10.61%. The ex-dividend date of this dividend is Monday, May 5th. Ardagh Metal Packaging’s payout ratio is currently -1,000.00%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMBP. Wells Fargo & Company restated an “equal weight” rating and set a $3.35 price objective (down previously from $3.60) on shares of Ardagh Metal Packaging in a research report on Thursday, January 16th. UBS Group reduced their target price 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. Citigroup dropped their price target on 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. Finally, Morgan Stanley raised shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $3.60 to $3.10 in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.44.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AMBP. Diameter Capital Partners LP lifted its stake in Ardagh Metal Packaging by 10.1% in the fourth quarter. Diameter Capital Partners LP now owns 4,374,121 shares of the company’s stock valued at $13,166,000 after acquiring an additional 400,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ardagh Metal Packaging by 10.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,421,972 shares of the company’s stock worth $10,300,000 after purchasing an additional 312,640 shares during the last quarter. Solas Capital Management LLC grew its holdings in Ardagh Metal Packaging by 10.9% during the fourth quarter. Solas Capital Management LLC now owns 3,361,378 shares of the company’s stock valued at $10,118,000 after purchasing an additional 330,000 shares during the last quarter. King Street Capital Management L.P. raised its position in shares of Ardagh Metal Packaging by 155.0% in the fourth quarter. King Street Capital Management L.P. now owns 2,550,000 shares of the company’s stock valued at $7,676,000 after purchasing an additional 1,550,000 shares during the period. Finally, CenterBook Partners LP lifted its stake in shares of Ardagh Metal Packaging by 161.0% in the fourth quarter. CenterBook Partners LP now owns 2,370,730 shares of the company’s stock worth $7,136,000 after buying an additional 1,462,548 shares during the last quarter. 16.93% of the stock is owned by institutional investors and hedge funds.

Ardagh Metal Packaging Stock Performance

The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -31.41, a price-to-earnings-growth ratio of 0.54 and a beta of 0.54. The business’s 50 day moving average is $2.85 and its 200-day moving average is $3.13.

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.