Zacks: Brokerages Anticipate Ball Co. (NYSE:BLL) Will Post Quarterly Sales of $3.03 Billion

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Equities research analysts predict that Ball Co. (NYSE:BLL) will post sales of $3.03 billion for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Ball’s earnings. The highest sales estimate is $3.11 billion and the lowest is $2.86 billion. Ball reported sales of $3.10 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 2.3%. The company is expected to announce its next earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Ball will report full-year sales of $11.79 billion for the current year, with estimates ranging from $11.41 billion to $12.03 billion. For the next financial year, analysts forecast that the business will post sales of $12.35 billion, with estimates ranging from $11.82 billion to $12.77 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Ball.

Ball (NYSE:BLL) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.01). The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.66 billion. Ball had a return on equity of 20.39% and a net margin of 3.83%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share.

BLL has been the topic of a number of recent research reports. Morgan Stanley boosted their price objective on Ball from $66.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. Wells Fargo & Co boosted their price objective on Ball from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, May 17th. Zacks Investment Research raised Ball from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. KeyCorp reaffirmed a “hold” rating on shares of Ball in a research note on Thursday, May 2nd. Finally, Citigroup upped their price target on Ball from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Ball presently has a consensus rating of “Buy” and a consensus target price of $56.93.

In other Ball news, COO Daniel William Fisher sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $66.14, for a total transaction of $330,700.00. Following the sale, the chief operating officer now owns 34,045 shares in the company, valued at approximately $2,251,736.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman John A. Hayes sold 9,247 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $65.19, for a total value of $602,811.93. Following the sale, the chairman now owns 439,485 shares in the company, valued at approximately $28,650,027.15. The disclosure for this sale can be found here. Insiders sold a total of 41,655 shares of company stock worth $2,597,872 in the last quarter. Company insiders own 1.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its holdings in 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 period. Geode Capital Management LLC increased its holdings in shares of Ball by 7.6% in the 4th quarter. Geode Capital Management LLC now owns 4,417,275 shares of the industrial products company’s stock valued at $202,755,000 after acquiring an additional 311,457 shares during the last quarter. Jackson Square Partners LLC purchased a new position in shares of Ball in the 1st quarter valued at about $254,594,000. Northern Trust Corp increased its holdings in shares of Ball by 2.5% in the 4th quarter. Northern Trust Corp now owns 3,720,010 shares of the industrial products company’s stock valued at $171,047,000 after acquiring an additional 91,945 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Ball by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,336,542 shares of the industrial products company’s stock valued at $153,414,000 after acquiring an additional 63,862 shares during the last quarter. Institutional investors own 82.13% of the company’s stock.

Shares of NYSE:BLL traded up $0.08 during trading on Wednesday, reaching $66.53. The stock had a trading volume of 59,256 shares, compared to its average volume of 2,105,530. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.09 and a quick ratio of 0.77. The firm has a market capitalization of $22.24 billion, a PE ratio of 30.26, a P/E/G ratio of 4.55 and a beta of 0.74. Ball has a 1-year low of $34.71 and a 1-year high of $66.99.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Friday, May 31st. This is an increase from Ball’s previous quarterly dividend of $0.10. Ball’s payout ratio is currently 27.27%.

Ball Company Profile

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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