Wall Street analysts expect Ball Co. (NYSE:BLL) to post earnings per share (EPS) of $0.67 for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Ball’s earnings. The lowest EPS estimate is $0.64 and the highest is $0.69. Ball reported earnings of $0.61 per share in the same quarter last year, which would indicate a positive year over year growth rate of 9.8%. The business is scheduled to announce its next quarterly earnings report before the market opens on Thursday, May 6th.
On average, analysts expect that Ball will report full year earnings of $3.43 per share for the current fiscal year, with EPS estimates ranging from $3.29 to $3.50. For the next financial year, analysts forecast that the business will post earnings of $3.98 per share, with EPS estimates ranging from $3.65 to $4.20. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Ball.
Ball (NYSE:BLL) last posted its quarterly earnings results on Wednesday, February 3rd. The industrial products company reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.03. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $2.94 billion. Ball had a return on equity of 33.14% and a net margin of 4.54%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 EPS.
A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price target on Ball from $107.00 to $102.00 and set a “buy” rating on the stock in a research note on Wednesday, January 20th. The Goldman Sachs Group initiated coverage on Ball in a research note on Thursday, April 15th. They issued a “buy” rating and a $98.00 price target on the stock. Zacks Investment Research downgraded Ball from a “buy” rating to a “hold” rating and set a $96.00 price objective on the stock. in a research note on Tuesday, January 12th. Robert W. Baird downgraded Ball from an “outperform” rating to a “neutral” rating and set a $105.00 price objective on the stock. in a research note on Monday, January 4th. Finally, Jefferies Financial Group raised their price objective on Ball from $93.00 to $96.00 and gave the stock a “hold” rating in a research note on Wednesday, April 21st. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $99.69.
In other news, VP Scott C. Morrison sold 8,653 shares of the firm’s stock in a transaction dated Thursday, March 18th. The stock was sold at an average price of $82.50, for a total value of $713,872.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in BLL. Norges Bank bought a new position in shares of Ball in the 4th quarter valued at about $272,441,000. BlackRock Inc. grew its holdings in shares of Ball by 3.4% in the 4th quarter. BlackRock Inc. now owns 25,915,195 shares of the industrial products company’s stock valued at $2,414,778,000 after acquiring an additional 847,276 shares in the last quarter. Lazard Freres Gestion S.A.S. bought a new position in shares of Ball in the 4th quarter valued at about $71,938,000. Artisan Partners Limited Partnership grew its holdings in shares of Ball by 38.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,025,637 shares of the industrial products company’s stock valued at $188,749,000 after acquiring an additional 560,783 shares in the last quarter. Finally, PGGM Investments bought a new position in shares of Ball in the 4th quarter valued at about $39,134,000. Institutional investors own 82.12% of the company’s stock.
Shares of BLL stock traded up $0.39 during trading hours on Tuesday, reaching $93.65. The company had a trading volume of 1,738,112 shares, compared to its average volume of 1,898,247. The company has a 50 day moving average of $88.20 and a 200 day moving average of $90.44. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.07 and a quick ratio of 0.72. The firm has a market cap of $30.72 billion, a price-to-earnings ratio of 60.22, a P/E/G ratio of 5.44 and a beta of 0.46. Ball has a 1-year low of $59.79 and a 1-year high of $102.76.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Friday, May 28th. Ball’s dividend payout ratio (DPR) is presently 23.72%.
Ball Company Profile
Ball Corp. provides metal packaging for beverages, foods and household products, and of aerospace and other technologies and services to commercial and governmental customers. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.
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