Equities analysts expect that Ball Co. (NYSE:BLL) will report $2.83 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Ball’s earnings, with estimates ranging from $2.65 billion to $3.09 billion. Ball reported sales of $2.91 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.7%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, November 1st.
On average, analysts expect that Ball will report full year sales of $11.37 billion for the current year, with estimates ranging from $11.09 billion to $11.90 billion. For the next fiscal year, analysts expect that the company will post sales of $11.24 billion, with estimates ranging from $10.85 billion to $12.18 billion. Zacks’ sales averages are a mean average based on a survey of research firms that cover Ball.
Ball (NYSE:BLL) last released its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.58. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.01 billion. Ball had a return on equity of 19.93% and a net margin of 4.12%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS.
Several brokerages have weighed in on BLL. UBS Group set a $52.00 target price on Ball and gave the company a “buy” rating in a research note on Friday, October 5th. Deutsche Bank set a $51.00 target price on Ball and gave the company a “buy” rating in a research note on Thursday, October 4th. Zacks Investment Research downgraded Ball from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. BMO Capital Markets reiterated an “outperform” rating and issued a $52.00 target price on shares of Ball in a research note on Thursday, October 4th. Finally, Bank of America lifted their target price on Ball from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, September 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. Ball currently has a consensus rating of “Buy” and a consensus price target of $47.23.
In related news, VP Scott C. Morrison sold 25,000 shares of Ball stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $44.40, for a total value of $1,110,000.00. Following the sale, the vice president now directly owns 30,392 shares in the company, valued at $1,349,404.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman John A. Hayes sold 96,667 shares of Ball stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $43.00, for a total value of $4,156,681.00. Following the completion of the sale, the chairman now owns 471,228 shares in the company, valued at $20,262,804. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of BLL. BB&T Securities LLC raised its holdings in shares of Ball by 4.8% in the second quarter. BB&T Securities LLC now owns 28,879 shares of the industrial products company’s stock worth $1,026,000 after acquiring an additional 1,313 shares during the last quarter. Isthmus Partners LLC raised its holdings in shares of Ball by 0.8% in the second quarter. Isthmus Partners LLC now owns 159,338 shares of the industrial products company’s stock worth $5,664,000 after acquiring an additional 1,317 shares during the last quarter. Parkwood LLC raised its holdings in shares of Ball by 13.9% in the second quarter. Parkwood LLC now owns 11,538 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 1,410 shares during the last quarter. Sumitomo Life Insurance Co. raised its holdings in shares of Ball by 4.8% in the second quarter. Sumitomo Life Insurance Co. now owns 31,755 shares of the industrial products company’s stock worth $1,129,000 after acquiring an additional 1,466 shares during the last quarter. Finally, Nomura Holdings Inc. raised its holdings in shares of Ball by 5.7% in the second quarter. Nomura Holdings Inc. now owns 29,065 shares of the industrial products company’s stock worth $1,034,000 after acquiring an additional 1,558 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.
NYSE:BLL traded up $0.65 during mid-day trading on Friday, reaching $44.16. 3,882,913 shares of the stock were exchanged, compared to its average volume of 2,939,301. Ball has a 1 year low of $34.71 and a 1 year high of $46.69. The company has a market capitalization of $15.13 billion, a PE ratio of 21.65, a P/E/G ratio of 3.56 and a beta of 0.89. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 1.79.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th were paid a $0.10 dividend. The ex-dividend date was Friday, August 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.91%. Ball’s dividend payout ratio (DPR) is presently 19.61%.
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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