Ardagh Metal Packaging (NYSE:AMBP) Shares Break Above Fifty Day Moving Average – What’s Next?

Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $4.67 and traded as high as $4.75. Ardagh Metal Packaging shares last traded at $4.7250, with a volume of 1,697,832 shares traded.

Analysts Set New Price Targets

AMBP has been the topic of several analyst reports. Wall Street Zen cut shares of Ardagh Metal Packaging from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Weiss Ratings upgraded shares of Ardagh Metal Packaging from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ardagh Metal Packaging in a research report on Thursday, August 20th. They issued a “hold” rating and a $5.20 price objective on the stock. Citigroup restated a “buy” rating on shares of Ardagh Metal Packaging in a report on Friday, July 24th. Finally, UBS Group lifted their price objective on shares of Ardagh Metal Packaging from $4.50 to $4.75 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ardagh Metal Packaging presently has a consensus rating of “Hold” and a consensus target price of $4.88.

Ardagh Metal Packaging Trading Up 5.0%

The company’s 50 day moving average is $4.67 and its 200 day moving average is $4.48. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 52.51, a price-to-earnings-growth ratio of 0.89 and a beta of 0.50.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings data on Thursday, October 22nd. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. Ardagh Metal Packaging had a net margin of 0.93% and a negative return on equity of 23.24%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Ardagh Metal Packaging’s revenue for the quarter was up 18.6% on a year-over-year basis. Analysts anticipate that Ardagh Metal Packaging S.A. will post 0.26 EPS for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 26th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $0.40 dividend on an annualized basis and a yield of 8.5%. Ardagh Metal Packaging’s payout ratio is currently 444.44%.

Institutional Investors Weigh In On Ardagh Metal Packaging

Several large investors have recently modified their holdings of the company. Weiss Asset Management LP grew its holdings in shares of Ardagh Metal Packaging by 11,276.2% during the first quarter. Weiss Asset Management LP now owns 4,516,338 shares of the company’s stock worth $18,291,000 after buying an additional 4,476,638 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Ardagh Metal Packaging by 28.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,269,861 shares of the company’s stock valued at $13,243,000 after acquiring an additional 722,974 shares during the period. Dimensional Fund Advisors LP raised its stake in Ardagh Metal Packaging by 20.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,637,767 shares of the company’s stock valued at $18,779,000 after acquiring an additional 801,019 shares during the last quarter. Renaissance Technologies LLC raised its stake in Ardagh Metal Packaging by 31.9% during the 1st quarter. Renaissance Technologies LLC now owns 2,894,210 shares of the company’s stock valued at $11,722,000 after acquiring an additional 699,478 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Ardagh Metal Packaging by 139.6% during the 1st quarter. Bank of America Corp DE now owns 249,581 shares of the company’s stock valued at $1,011,000 after acquiring an additional 145,418 shares during the last quarter. 16.93% of the stock is owned by institutional investors and hedge funds.

About Ardagh Metal Packaging

Ardagh Metal Packaging SA (NYSE: AMBP) is a global manufacturer of beverage cans and related metal packaging. The company produces aluminum and steel cans, ends and other components used for beer, soft drinks, energy drinks, sparkling water, juices and other beverages. Its products are supplied to major beverage companies, regional brands and contract manufacturers.

The company operates production and design facilities across Europe, North America and South America, including Brazil. Its packaging is designed to support brand presentation, product protection and efficient distribution, while metal cans can be recycled repeatedly without losing their basic properties.

Ardagh Metal Packaging became a separately listed public company in 2021 through a business combination involving Ardagh Group’s metal packaging business and Gores Holdings V.