Brokerages Expect Ball Corporation (BLL) to Post $0.58 EPS
Equities analysts predict that Ball Corporation (NYSE:BLL) will report $0.58 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Ball Corporation’s earnings, with the highest EPS estimate coming in at $0.62 and the lowest estimate coming in at $0.50. Ball Corporation posted earnings per share of $0.48 during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.8%. The company is expected to announce its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Ball Corporation will report full-year earnings of $2.04 per share for the current year, with EPS estimates ranging from $1.98 to $2.07. For the next year, analysts anticipate that the firm will report earnings of $2.40 per share, with EPS estimates ranging from $2.07 to $2.58. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Ball Corporation.
Ball Corporation (NYSE:BLL) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Ball Corporation had a return on equity of 17.63% and a net margin of 1.70%. The company’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 earnings per share.
Several analysts have weighed in on the company. Jefferies Group LLC reiterated a “buy” rating and set a $49.00 price target (down previously from $50.00) on shares of Ball Corporation in a research note on Wednesday, August 9th. Vertical Group reiterated a “hold” rating and set a $43.00 price target (up previously from $41.50) on shares of Ball Corporation in a research note on Wednesday, August 9th. Barclays PLC boosted their price target on Ball Corporation from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. BidaskClub downgraded Ball Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research upgraded 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Ball Corporation currently has a consensus rating of “Hold” and an average target price of $44.05.
In other news, VP Jeff A. Knobel sold 5,218 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $40.12, for a total value of $209,346.16. Following the sale, the vice president now owns 68,138 shares in the company, valued at $2,733,696.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Daniel William Fisher sold 1,750 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $41.77, for a total value of $73,097.50. Following the completion of the sale, the chief operating officer now owns 11,594 shares in the company, valued at approximately $484,281.38. The disclosure for this sale can be found here. Insiders sold 114,325 shares of company stock worth $4,641,057 in the last 90 days. Company insiders own 2.70% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Ball Corporation by 100.0% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,450 shares of the industrial products company’s stock worth $103,000 after buying an additional 1,225 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Ball Corporation by 5,297.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,483 shares of the industrial products company’s stock worth $104,000 after buying an additional 2,437 shares during the last quarter. Baird Financial Group Inc. purchased a new stake in shares of Ball Corporation in the first quarter worth about $201,000. American Research & Management Co. boosted its stake in shares of Ball Corporation by 100.0% in the second quarter. American Research & Management Co. now owns 2,800 shares of the industrial products company’s stock worth $118,000 after buying an additional 1,400 shares during the last quarter. Finally, Korea Investment CORP boosted its stake in shares of Ball Corporation by 385.5% in the second quarter. Korea Investment CORP now owns 3,083 shares of the industrial products company’s stock worth $130,000 after buying an additional 2,448 shares during the last quarter. Hedge funds and other institutional investors own 86.43% of the company’s stock.
Shares of Ball Corporation (NYSE BLL) traded down 0.42% on Thursday, reaching $40.61. The company’s stock had a trading volume of 1,560,625 shares. The firm has a 50 day moving average price of $40.28 and a 200-day moving average price of $39.74. The stock has a market cap of $14.29 billion, a PE ratio of 57.60 and a beta of 0.96. Ball Corporation has a 12-month low of $35.65 and a 12-month high of $43.06.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.98%. Ball Corporation’s payout ratio is 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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