Wall Street analysts predict that Ball Corporation (NYSE:BLL) will post $2.92 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Ball Corporation’s earnings. The highest sales estimate is $2.96 billion and the lowest is $2.88 billion. Ball Corporation posted sales of $2.82 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.5%. The firm is scheduled to announce its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Ball Corporation will report full year sales of $2.92 billion for the current year, with estimates ranging from $10.79 billion to $11.03 billion. For the next year, analysts forecast that the company will post sales of $11.20 billion per share, with estimates ranging from $11.09 billion to $11.27 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Ball Corporation.
Ball Corporation (NYSE:BLL) last announced its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by $0.02. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Ball Corporation had a return on equity of 17.54% and a net margin of 1.70%. Ball Corporation’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 EPS.
Several equities analysts recently issued reports on the stock. Vertical Group reiterated a “hold” rating and issued a $43.00 target price (up from $41.50) on shares of Ball Corporation in a research note on Wednesday. Jefferies Group LLC restated a “buy” rating and set a $49.00 price objective (down from $50.00) on shares of Ball Corporation in a research report on Wednesday. Barclays PLC upped their price objective on shares of Ball Corporation from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday. BidaskClub cut shares of Ball Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research cut shares of Ball Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $44.05.
In other news, Director R David Hoover sold 22,000 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $39.75, for a total value of $874,500.00. Following the completion of the sale, the director now directly owns 205,260 shares in the company, valued at $8,159,085. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman John A. Hayes sold 5,655 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $41.19, for a total transaction of $232,929.45. Following the completion of the sale, the chairman now owns 407,575 shares of the company’s stock, valued at $16,788,014.25. The disclosure for this sale can be found here. Insiders sold 117,654 shares of company stock valued at $4,839,833 over the last quarter. Company insiders own 2.70% of the company’s stock.
Several large investors have recently modified their holdings of BLL. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Ball Corporation by 100.0% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,450 shares of the industrial products company’s stock worth $103,000 after buying an additional 1,225 shares during the period. American Research & Management Co. boosted its stake in shares of Ball Corporation by 100.0% in the second quarter. American Research & Management Co. now owns 2,800 shares of the industrial products company’s stock worth $118,000 after buying an additional 1,400 shares during the period. Pinnacle Bank acquired a new stake in shares of Ball Corporation during the first quarter worth approximately $126,000. Korea Investment CORP boosted its stake in shares of Ball Corporation by 385.5% in the second quarter. Korea Investment CORP now owns 3,083 shares of the industrial products company’s stock worth $130,000 after buying an additional 2,448 shares during the period. Finally, Ledyard National Bank boosted its stake in shares of Ball Corporation by 520.0% in the second quarter. Ledyard National Bank now owns 3,100 shares of the industrial products company’s stock worth $131,000 after buying an additional 2,600 shares during the period. Institutional investors and hedge funds own 46.59% of the company’s stock.
Shares of Ball Corporation (BLL) opened at 40.28 on Thursday. The stock has a market cap of $14.14 billion, a PE ratio of 29.97 and a beta of 0.95. The firm has a 50-day moving average of $41.99 and a 200-day moving average of $39.14. Ball Corporation has a one year low of $35.65 and a one year high of $43.06.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Wednesday, August 30th. Ball Corporation’s dividend payout ratio (DPR) is 78.43%.
About Ball Corporation
Ball Corporation is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.
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