Brokerages expect Ball Co. (NYSE:BLL) to report earnings of $0.59 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Ball’s earnings. The highest EPS estimate is $0.61 and the lowest is $0.55. Ball posted earnings of $0.52 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.5%. The firm is scheduled to report its next earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Ball will report full-year earnings of $2.25 per share for the current year, with EPS estimates ranging from $2.19 to $2.29. For the next fiscal year, analysts forecast that the company will post earnings of $2.68 per share, with EPS estimates ranging from $2.30 to $2.85. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Ball.
Ball (NYSE:BLL) last released its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. Ball had a return on equity of 19.93% and a net margin of 4.12%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the company posted $0.53 EPS. Ball’s revenue for the quarter was up 8.6% on a year-over-year basis.
BLL has been the topic of several analyst reports. Royal Bank of Canada restated a “buy” rating and set a $47.00 price objective on shares of Ball in a report on Monday, August 6th. Zacks Investment Research downgraded Ball from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. ValuEngine upgraded Ball from a “strong sell” rating to a “sell” rating in a report on Friday, August 3rd. Citigroup dropped their price objective on Ball from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, July 10th. Finally, Barclays lifted their price objective on Ball from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $45.20.
BLL stock traded up $0.53 during midday trading on Friday, hitting $41.95. 2,320,658 shares of the company’s stock were exchanged, compared to its average volume of 2,897,395. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 1.79. Ball has a 12-month low of $34.71 and a 12-month high of $43.24. The company has a market capitalization of $14.40 billion, a PE ratio of 20.31, a P/E/G ratio of 3.38 and a beta of 0.88.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.95%. Ball’s dividend payout ratio (DPR) is 19.61%.
In other news, VP Scott C. Morrison sold 2,143 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $35.80, for a total value of $76,719.40. Following the completion of the sale, the vice president now directly owns 408,256 shares in the company, valued at approximately $14,615,564.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 stock. JPMorgan Chase & Co. grew its stake in Ball by 32.3% during the 1st quarter. JPMorgan Chase & Co. now owns 22,174,838 shares of the industrial products company’s stock worth $880,562,000 after buying an additional 5,409,589 shares during the last quarter. BlackRock Inc. grew its stake in Ball by 0.9% during the 1st quarter. BlackRock Inc. now owns 21,517,763 shares of the industrial products company’s stock worth $854,472,000 after buying an additional 194,319 shares during the last quarter. Janus Henderson Group PLC grew its stake in Ball by 11.9% during the 2nd quarter. Janus Henderson Group PLC now owns 8,577,094 shares of the industrial products company’s stock worth $304,917,000 after buying an additional 915,131 shares during the last quarter. Manning & Napier Group LLC grew its stake in Ball by 56.9% during the 1st quarter. Manning & Napier Group LLC now owns 3,944,675 shares of the industrial products company’s stock worth $156,641,000 after buying an additional 1,430,747 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Ball by 1.6% during the 1st quarter. Victory Capital Management Inc. now owns 3,172,184 shares of the industrial products company’s stock worth $125,968,000 after buying an additional 49,713 shares during the last quarter. Hedge funds and other institutional investors own 85.68% of the company’s stock.
Ball Corporation supplies metal packaging products to the beverage, food, personal care, and household products industries. It operates in five segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.
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