Ball (NYSE:BALL) Releases Quarterly Earnings Results

Ball (NYSE:BALL) posted its quarterly earnings results on Friday. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12, RTT News reports. The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $3.23 billion. Ball had a return on equity of 23.81% and a net margin of 5.04%. The company’s revenue for the quarter was down 17.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share.

Ball Stock Up 6.6 %

NYSE:BALL opened at $69.80 on Friday. Ball has a 1-year low of $42.81 and a 1-year high of $70.75. The firm has a market capitalization of $22.03 billion, a price-to-earnings ratio of 5.25, a PEG ratio of 4.51 and a beta of 0.89. The company has a current ratio of 0.79, a quick ratio of 0.54 and a debt-to-equity ratio of 1.96. The business’s fifty day moving average price is $65.12 and its 200 day moving average price is $58.03.

Ball Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.20 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.15%. Ball’s dividend payout ratio is currently 6.02%.

Ball declared that its Board of Directors has authorized a share repurchase plan on Wednesday, April 24th that allows the company to buyback 40,000,000 outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

BALL has been the subject of a number of research analyst reports. Bank of America upgraded Ball from an “underperform” rating to a “buy” rating and raised their price target for the company from $61.00 to $72.00 in a research report on Monday, March 4th. Royal Bank of Canada upgraded shares of Ball from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $61.00 to $74.00 in a research report on Tuesday, February 20th. Barclays reaffirmed an “equal weight” rating and issued a $71.00 price target (up previously from $66.00) on shares of Ball in a report on Thursday, April 4th. Mizuho raised their price objective on shares of Ball to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 20th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $60.00 target price on shares of Ball in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $65.58.

Insider Buying and Selling at Ball

In other news, insider Daniel William Fisher bought 3,869 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $64.56 per share, with a total value of $249,782.64. Following the transaction, the insider now directly owns 111,866 shares in the company, valued at approximately $7,222,068.96. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.81% of the company’s stock.

Ball Company Profile

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.