Ball Corporation (BLL) Now Covered by Analysts at Royal Bank Of Canada
Royal Bank Of Canada assumed coverage on shares of Ball Corporation (NYSE:BLL) in a research note issued to investors on Monday morning. The firm issued an outperform rating on the industrial products company’s stock.
Several other equities analysts have also weighed in on the company. Jefferies Group LLC restated a buy rating and set a $47.00 target price on shares of Ball Corporation in a report on Sunday, June 25th. BidaskClub lowered Ball Corporation from a sell rating to a strong sell rating in a report on Saturday, August 26th. Zacks Investment Research lowered Ball Corporation from a buy rating to a hold rating in a research note on Wednesday, July 5th. Finally, Deutsche Bank AG reiterated a buy rating and issued a $47.00 price objective (up from $44.00) on shares of Ball Corporation in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $43.94.
Shares of Ball Corporation (BLL) opened at 42.06 on Monday. Ball Corporation has a 1-year low of $35.65 and a 1-year high of $43.06. The stock has a 50 day moving average price of $40.54 and a 200-day moving average price of $40.18. The firm has a market cap of $14.80 billion, a price-to-earnings ratio of 59.66 and a beta of 0.97.
Ball Corporation (NYSE:BLL) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.02). Ball Corporation had a net margin of 1.70% and a return on equity of 17.63%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the business earned $1.05 earnings per share. Ball Corporation’s quarterly revenue was up 40.6% on a year-over-year basis. On average, equities research analysts expect that Ball Corporation will post $2.04 earnings per share for the current fiscal year.
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The firm also recently disclosed 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 0.95%. Ball Corporation’s payout ratio is presently 78.43%.
In related news, SVP Lisa Ann Pauley sold 37,984 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $42.03, for a total transaction of $1,596,467.52. Following the transaction, the senior vice president now directly owns 108,905 shares in the company, valued at $4,577,277.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John A. Hayes sold 5,655 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $41.19, for a total value of $232,929.45. Following the transaction, the chairman now owns 407,575 shares in the company, valued at $16,788,014.25. The disclosure for this sale can be found here. Insiders have sold 129,601 shares of company stock worth $5,260,953 over the last 90 days. Corporate insiders own 2.70% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of BLL. Vanguard Group Inc. increased its stake in Ball Corporation by 104.6% during the second quarter. Vanguard Group Inc. now owns 35,339,156 shares of the industrial products company’s stock valued at $1,491,666,000 after acquiring an additional 18,062,724 shares during the period. BlackRock Inc. increased its stake in Ball Corporation by 104.4% during the second quarter. BlackRock Inc. now owns 21,051,051 shares of the industrial products company’s stock valued at $888,566,000 after acquiring an additional 10,752,597 shares during the period. FMR LLC increased its stake in Ball Corporation by 91.2% during the second quarter. FMR LLC now owns 18,275,730 shares of the industrial products company’s stock valued at $771,419,000 after acquiring an additional 8,716,359 shares during the period. JPMorgan Chase & Co. increased its stake in Ball Corporation by 111.7% during the second quarter. JPMorgan Chase & Co. now owns 14,936,002 shares of the industrial products company’s stock valued at $630,447,000 after acquiring an additional 7,881,436 shares during the period. Finally, State Street Corp increased its stake in Ball Corporation by 97.8% during the second quarter. State Street Corp now owns 14,936,539 shares of the industrial products company’s stock valued at $630,475,000 after acquiring an additional 7,386,379 shares during the period. Hedge funds and other institutional investors own 86.43% of the company’s stock.
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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