Ball (NYSE:BLL) had its price target raised by Citigroup from $69.00 to $81.00 in a report published on Thursday, BenzingaRatingsTable reports. The firm currently has a buy rating on the industrial products company’s stock.
BLL has been the topic of several other research reports. Wells Fargo & Co set a $9.00 price objective on Bausch Health Companies and gave the stock a sell rating in a research report on Friday, May 17th. KeyCorp restated a hold rating on shares of Ball in a research report on Thursday, May 2nd. Zacks Investment Research lowered GENEL ENERGY PL/ADR from a buy rating to a hold rating in a research report on Tuesday, May 7th. Morgan Stanley restated a top pick rating on shares of in a research report on Wednesday, June 5th. Finally, Vertical Research lowered Ball from a hold rating to a sell rating in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Ball currently has a consensus rating of Hold and a consensus target price of $58.01.
Shares of NYSE:BLL opened at $70.00 on Thursday. Ball has a twelve month low of $37.24 and a twelve month high of $72.34. The stock has a 50 day simple moving average of $66.51. The company has a current ratio of 1.09, a quick ratio of 0.77 and a debt-to-equity ratio of 1.84. The firm has a market cap of $23.43 billion, a P/E ratio of 31.82, a PEG ratio of 4.90 and a beta of 0.80.
Ball (NYSE:BLL) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.01). Ball had a return on equity of 20.39% and a net margin of 3.83%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the company posted $0.50 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, research analysts anticipate that Ball will post 2.6 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, May 31st. This is an increase from Ball’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.86%. Ball’s dividend payout ratio (DPR) is 27.27%.
In related news, Chairman John A. Hayes sold 9,111 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.66, for a total transaction of $561,784.26. Following the completion of the sale, the chairman now directly owns 472,141 shares of the company’s stock, valued at approximately $29,112,214.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott C. Morrison sold 2,897 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $63.06, for a total value of $182,684.82. Following the sale, the vice president now directly owns 441,271 shares of the company’s stock, valued at $27,826,549.26. The disclosure for this sale can be found here. Insiders sold a total of 42,078 shares of company stock valued at $2,746,288 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.
Several large investors have recently modified their holdings of BLL. Jackson Square Partners LLC acquired a new stake in shares of Ball during the 1st quarter worth about $254,594,000. Norges Bank acquired a new stake in shares of Ball during the 4th quarter worth about $137,213,000. Amundi Pioneer Asset Management Inc. increased its position in shares of Ball by 170.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,981,488 shares of the industrial products company’s stock worth $91,109,000 after purchasing an additional 1,247,491 shares during the last quarter. Deutsche Bank AG increased its position in shares of Ball by 70.6% during the 4th quarter. Deutsche Bank AG now owns 2,427,814 shares of the industrial products company’s stock worth $111,625,000 after purchasing an additional 1,004,744 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Ball by 2.7% during the 1st quarter. BlackRock Inc. now owns 22,146,380 shares of the industrial products company’s stock worth $1,281,389,000 after purchasing an additional 580,211 shares during the last quarter. 81.97% of the stock is owned by hedge funds and other institutional investors.
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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