Ardagh Metal Packaging (NYSE:AMBP) Sees Large Volume Increase

Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) saw unusually-high trading volume on Friday . Approximately 2,268,019 shares traded hands during trading, an increase of 71% from the previous session’s volume of 1,326,946 shares.The stock last traded at $3.39 and had previously closed at $3.35.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Bank of America lowered Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and cut their target price for the company from $4.10 to $3.50 in a report on Monday, April 1st. Morgan Stanley began coverage on Ardagh Metal Packaging in a research report on Monday, March 18th. They set an “underweight” rating and a $3.20 target price for the company. Finally, Wells Fargo & Company lifted their price target on shares of Ardagh Metal Packaging from $3.70 to $3.75 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.31.

Ardagh Metal Packaging Trading Up 1.2 %

The company has a debt-to-equity ratio of 124.21, a current ratio of 0.95 and a quick ratio of 0.61. The company has a 50 day moving average of $3.82 and a 200 day moving average of $3.68.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Ardagh Metal Packaging had a negative net margin of 1.26% and a positive return on equity of 55.91%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business earned $0.01 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts expect that Ardagh Metal Packaging S.A. will post 0.2 earnings per share for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 11.80%. The ex-dividend date was Wednesday, June 12th. Ardagh Metal Packaging’s dividend payout ratio is presently -285.69%.

Hedge Funds Weigh In On Ardagh Metal Packaging

Several hedge funds have recently added to or reduced their stakes in the company. Wedmont Private Capital bought a new stake in shares of Ardagh Metal Packaging during the 4th quarter valued at $39,000. Fidelis Capital Partners LLC acquired a new position in Ardagh Metal Packaging in the fourth quarter valued at about $46,000. Prime Capital Investment Advisors LLC bought a new position in Ardagh Metal Packaging during the fourth quarter worth about $47,000. Catalina Capital Group LLC acquired a new position in shares of Ardagh Metal Packaging during the 1st quarter worth about $42,000. Finally, Balentine LLC bought a new stake in shares of Ardagh Metal Packaging in the 4th quarter valued at about $64,000. 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.