Ardagh Metal Packaging Inc (NYSE:AMBP) drops to a new one-year low following an analyst downgrade.
On Friday, Ardagh Metal Packaging SA (NYSE: AMBP) stock was downgraded by the Royal Bank of Canada from an outperform rating to a sector performance rating. This caused trading to hit a new 52-week low, the lowest point in company history. Additionally, the stock price target, which was previously set at $7, has reportedly been reduced to $5, as reported by Royal Bank of Canada. The number of shares that changed hands in the market was 6,960, and Ardagh Metal Packaging’s price ranged from $4.54 to $4.64 throughout the trading session. When the stock last traded, it was offered at $4.79 per share.
AMBP has also been the subject of conversations in other research projects. In a research note released Tuesday, July 19, Deutsche Bank Aktiengesellschaft reduced its price target on Ardagh Metal Packaging shares from $10.00 to $8.00 in a research note. In a research note released Wednesday, Wells Fargo & Company reclassified Ardagh Metal Packaging stock as “equal weight” and lowered its price target for the stock from $7.00 to $5.45. The price target was previously set at $7.00. In a research note published Monday, October 3, Barclays classified Ardagh Metal Packaging shares as “overweight” and reduced its price target on Ardagh Metal Packaging shares from $9.00 to $7.00. $. The rating was issued in response to the company’s announcement that it would cut the share price target. The analysis conducted by Barclays has been posted online. In a research note made publicly available on Wednesday, October 5, Morgan Stanley lowered its price target for Ardagh Metal Packaging from $6.50 to $6.30. He categorized the stock as “equal weight”. The note was published online. In a report on Thursday, Bank of America lowered its price target for shares of Ardagh Metal Packaging. The new price target is $6.00, down from $7.00 previously. This was the company’s last action, but by no means the least important. Five market analysts issued a buy recommendation for the stock, while three issued a hold rating. According to information on Bloomberg.com, the stock has a consensus rating of “Moderate Buy” and the price target has been set at $7.97.
Institutional investors have recently changed the way they hold their positions in the company in light of recent events. During the first three months of 2018, Balentine LLC purchased Ardagh Metal Packaging shares worth approximately $217,000. During the first three months of the year, approximately $161,000 was spent by Fox Run Management, LLC to increase its stake in Ardagh Metal Packaging. Additionally, William Blair Investment Management LLC and Sanders Morris Harris LLC bought new positions in Ardagh Metal Packaging during the first quarter, with William Blair Investment Management LLC spending approximately $18,162,000 and Sanders Morris Harris LLC spending approximately $224,400. Last but not least, in the first three months of this year, Lapides Asset Management LLC saw a 45.1% increase in the proportion of Ardagh Metal Packaging shares it held after purchasing those shares. Since the beginning of the last fiscal quarter, Lapides Asset Management LLC has made additional purchases amounting to 76,300 shares of the company. This brings the total number of shares they own in the company to 245,600, and the value of their holdings is $1,997,000. As a result, the holdings of institutional investors can be found up to 18.84% of the equity of the company, the holdings of institutional investors can be found.
The stock’s price-to-earnings ratio is -159.61, the stock’s market capitalization is $2.78 billion, the stock’s PEG ratio is 0.66, and the stock’s beta is l action is 0.73. The current ratio value is 1.42, the quick ratio value is 1.06, and the debt ratio value is 10.20. The company’s stock price has averaged $5.82 over the past fifty trading days and $6.39 over the past 200 trading days.
On Thursday, July 28, Ardagh Metal Packaging (NYSE:AMBP) released its latest quarterly earnings report. The company reported earnings per share for the quarter of $0.11, $0.02 higher than analysts’ consensus estimate, which had predicted earnings per share of $0.09. The company’s revenue for the quarter was $1.30 billion, significantly higher than the $1.25 billion that analysts had expected during the period. Even though Ardagh Metal Packaging had a negative net margin of 0.11%, the company had a good return on equity at 89.66%. Sell-side analysts expect Ardagh Metal Packaging SA to earn $0.4 per share in the current fiscal year.
The company has just revealed that it will distribute a quarterly dividend on Thursday, October 27, as it just announced this development. On Friday, October 14, shareholders of record on Thursday, October 13 will be eligible to receive a dividend payment of $0.10 per share. As a direct result, the dividend yield is calculated at 8.68% and the amount distributed annually is $0.40. On Wednesday, October 12, shareholders will no longer receive any part of this dividend after the date that has been specified. Ardagh Metal Packaging has a dividend payout ratio of negative 2,665.78%.
All of Europe, the United States of America and Brazil are covered by the distribution of metal cans from Ardagh Metal Packaging SA. End-use categories for its products include beverages such as beer, soft drinks, energy drinks, hard seltzers, juices, pre-mixed cocktails, teas, sparkling waters and wine. Other end-use categories include sparkling waters. There are also categories for things like hard seltzer and sparkling water. The company’s customers include those who manufacture various types of beverages.