Ball Co. to Post Q2 2024 Earnings of $0.75 Per Share, Zacks Research Forecasts (NYSE:BALL)

Ball Co. (NYSE:BALL) – Analysts at Zacks Research dropped their Q2 2024 earnings per share (EPS) estimates for Ball in a research note issued to investors on Wednesday, April 3rd. Zacks Research analyst M. Das now expects that the company will earn $0.75 per share for the quarter, down from their prior forecast of $0.78. The consensus estimate for Ball’s current full-year earnings is $3.11 per share. Zacks Research also issued estimates for Ball’s Q4 2024 earnings at $0.93 EPS, Q1 2025 earnings at $0.70 EPS, Q3 2025 earnings at $1.01 EPS, Q4 2025 earnings at $0.91 EPS and FY2025 earnings at $3.36 EPS.

A number of other analysts have also recently commented on the company. TheStreet upgraded Ball from a “c+” rating to a “b-” rating in a research report on Friday, March 8th. Citigroup began coverage on Ball in a research report on Wednesday, March 27th. They set a “neutral” rating and a $70.00 target price for the company. UBS Group began coverage on Ball in a research report on Tuesday, January 16th. They set a “sell” rating and a $55.00 target price for the company. Mizuho increased their target price on Ball to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Finally, Wells Fargo & Company increased their target price on Ball from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $65.58.

Ball Stock Performance

Shares of BALL opened at $67.36 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.79 and a debt-to-equity ratio of 1.96. The business has a 50-day simple moving average of $63.56 and a two-hundred day simple moving average of $56.50. The stock has a market cap of $21.26 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 4.28 and a beta of 0.89. Ball has a 52 week low of $42.81 and a 52 week high of $67.97.

Ball (NYSE:BALL) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Ball had a return on equity of 23.81% and a net margin of 5.04%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 earnings per share.

Ball Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, February 29th. Ball’s payout ratio is presently 35.71%.

Insider Activity at Ball

In other news, insider Daniel William Fisher purchased 3,869 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $64.56 per share, with a total value of $249,782.64. Following the completion of the purchase, the insider now owns 111,866 shares in the company, valued at $7,222,068.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ball

Several institutional investors have recently modified their holdings of the stock. Jag Capital Management LLC lifted its stake in shares of Ball by 0.7% in the 4th quarter. Jag Capital Management LLC now owns 25,562 shares of the company’s stock valued at $1,470,000 after purchasing an additional 169 shares during the last quarter. Veritable L.P. lifted its stake in shares of Ball by 0.9% in the 1st quarter. Veritable L.P. now owns 21,318 shares of the company’s stock valued at $1,175,000 after purchasing an additional 180 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of Ball by 31.0% in the 4th quarter. NBC Securities Inc. now owns 769 shares of the company’s stock valued at $44,000 after purchasing an additional 182 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Ball by 2.6% in the 4th quarter. QRG Capital Management Inc. now owns 7,704 shares of the company’s stock valued at $443,000 after purchasing an additional 194 shares during the last quarter. Finally, JGP Wealth Management LLC lifted its stake in shares of Ball by 1.3% in the 4th quarter. JGP Wealth Management LLC now owns 15,896 shares of the company’s stock valued at $914,000 after purchasing an additional 208 shares during the last quarter. 86.51% of the stock is owned by institutional investors.

About Ball

Ball Corporation supplies aluminum packaging products for the beverage, personal care, and household products industries in the United States, Brazil, and internationally. The company manufactures and sells aluminum beverage containers to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.