Q3 2017 EPS Estimates for Ball Corporation Cut by Analyst (BLL)
Ball Corporation (NYSE:BLL) – Equities research analysts at Jefferies Group reduced their Q3 2017 earnings per share estimates for Ball Corporation in a report issued on Thursday. Jefferies Group analyst P. Ng now expects that the industrial products company will post earnings per share of $0.61 for the quarter, down from their previous estimate of $0.67. Jefferies Group currently has a “Buy” rating and a $50.00 target price on the stock. Jefferies Group also issued estimates for Ball Corporation’s FY2019 earnings at $3.01 EPS.
Several other equities analysts also recently issued reports on the stock. ValuEngine downgraded shares of Ball Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded shares of Ball Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub raised shares of Ball Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Deutsche Bank AG reaffirmed a “buy” rating and set a $47.00 price target (up previously from $44.00) on shares of Ball Corporation in a research note on Tuesday, July 18th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $39.50 price target on shares of Ball Corporation in a research note on Wednesday, April 12th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $44.28.
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Shares of Ball Corporation (NYSE:BLL) opened at 41.17 on Monday. The firm’s 50 day moving average is $42.07 and its 200 day moving average is $39.02. Ball Corporation has a 12 month low of $34.88 and a 12 month high of $43.06. The company has a market cap of $14.46 billion, a PE ratio of 30.63 and a beta of 0.95.
Ball Corporation (NYSE:BLL) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by $0.02. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.81 billion. Ball Corporation had a net margin of 1.70% and a return on equity of 17.54%. The business’s revenue was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 EPS.
A number of large investors have recently bought and sold shares of the company. Baird Financial Group Inc. bought a new stake in Ball Corporation during the first quarter worth approximately $201,000. Geode Capital Management LLC boosted its stake in Ball Corporation by 9.4% in the first quarter. Geode Capital Management LLC now owns 1,637,759 shares of the industrial products company’s stock worth $121,443,000 after buying an additional 140,259 shares during the last quarter. Credit Agricole S A boosted its stake in Ball Corporation by 17.4% in the first quarter. Credit Agricole S A now owns 103,163 shares of the industrial products company’s stock worth $7,662,000 after buying an additional 15,280 shares during the last quarter. CWM LLC bought a new stake in Ball Corporation during the first quarter worth approximately $4,529,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Ball Corporation by 30.9% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,957 shares of the industrial products company’s stock worth $591,000 after buying an additional 1,877 shares during the last quarter. Institutional investors and hedge funds own 46.59% of the company’s stock.
In other Ball Corporation news, Director R David Hoover sold 22,000 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $39.75, for a total value of $874,500.00. Following the completion of the sale, the director now directly owns 205,260 shares in the company, valued at $8,159,085. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Lisa Ann Pauley sold 20,960 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $41.48, for a total transaction of $869,420.80. Following the completion of the sale, the senior vice president now owns 108,887 shares of the company’s stock, valued at $4,516,632.76. The disclosure for this sale can be found here. Insiders have sold 111,999 shares of company stock valued at $4,606,903 in the last three months. 2.70% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Wednesday, August 30th. Ball Corporation’s dividend payout ratio is presently 78.43%.
About Ball Corporation
Ball Corporation is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.
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