Ball Corporation (BLL) Expected to Announce Quarterly Sales of $2.93 Billion
Equities analysts expect that Ball Corporation (NYSE:BLL) will post $2.93 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Ball Corporation’s earnings. The lowest sales estimate is $2.88 billion and the highest is $3.01 billion. Ball Corporation reported sales of $2.82 billion in the same quarter last year, which indicates a positive year over year growth rate of 3.9%. The company is scheduled to report its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that Ball Corporation will report full-year sales of $2.93 billion for the current year, with estimates ranging from $10.79 billion to $11.02 billion. For the next year, analysts forecast that the firm will post sales of $11.24 billion per share, with estimates ranging from $11.09 billion to $11.46 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Ball Corporation.
Ball Corporation (NYSE:BLL) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Ball Corporation had a net margin of 1.70% and a return on equity of 17.63%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period in the previous year, the company earned $1.05 EPS. Ball Corporation’s revenue was up 40.6% compared to the same quarter last year.
Several equities research analysts have recently commented on BLL shares. Zacks Investment Research raised Ball Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Tuesday, July 4th. BidaskClub raised Ball Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Jefferies Group LLC reissued a “buy” rating and set a $47.00 price target on shares of Ball Corporation in a research note on Sunday, June 25th. Deutsche Bank AG reissued 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, Barclays PLC boosted their price target on Ball Corporation from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Ball Corporation has a consensus rating of “Hold” and a consensus target price of $44.05.
In other Ball Corporation news, Chairman John A. Hayes sold 5,683 shares of the business’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $42.23, for a total value of $239,993.09. Following the completion of the transaction, the chairman now directly owns 407,562 shares in the company, valued at approximately $17,211,343.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Daniel William Fisher sold 1,750 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $41.77, for a total value of $73,097.50. Following the completion of the transaction, the chief operating officer now owns 11,594 shares of the company’s stock, valued at $484,281.38. The disclosure for this sale can be found here. Insiders sold a total of 114,325 shares of company stock valued at $4,641,057 over the last quarter. 2.70% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. W. E. Donoghue & Co. LLC acquired a new position in Ball Corporation in the 2nd quarter valued at $2,348,000. Packer & Co Ltd raised its holdings in Ball Corporation by 100.0% in the 2nd quarter. Packer & Co Ltd now owns 601,846 shares of the industrial products company’s stock valued at $25,404,000 after acquiring an additional 300,923 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in Ball Corporation by 184.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 186,093 shares of the industrial products company’s stock valued at $7,855,000 after acquiring an additional 120,689 shares during the last quarter. Sentry Investment Management LLC raised its holdings in Ball Corporation by 100.0% in the 2nd quarter. Sentry Investment Management LLC now owns 13,808 shares of the industrial products company’s stock valued at $583,000 after acquiring an additional 6,904 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in Ball Corporation by 150.9% in the 2nd quarter. Toronto Dominion Bank now owns 118,833 shares of the industrial products company’s stock valued at $5,015,000 after acquiring an additional 71,465 shares during the last quarter. Institutional investors own 86.36% of the company’s stock.
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Ball Corporation (NYSE:BLL) opened at 40.53 on Friday. The firm’s 50 day moving average price is $40.35 and its 200-day moving average price is $39.64. Ball Corporation has a one year low of $35.65 and a one year high of $43.06. The firm has a market cap of $14.26 billion, a PE ratio of 57.49 and a beta of 0.96.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.40 annualized dividend and a yield of 0.99%. Ball Corporation’s dividend payout ratio (DPR) is presently 78.43%.
Ball Corporation Company Profile
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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