KeyCorp reiterated their hold rating on shares of Ball (NYSE:BLL) in a report published on Friday morning, AnalystRatings.com reports. KeyCorp also issued estimates for Ball’s Q4 2019 earnings at $0.70 EPS.
“We consider BLL a solid company with healthy future growth prospects; we just don’t understand the multiple at which it trades.”,” the firm’s analyst commented.
A number of other equities research analysts also recently issued reports on the stock. Citigroup boosted their price target on shares of Ball from $69.00 to $81.00 and gave the company a buy rating in a research note on Thursday, July 11th. Zacks Investment Research raised shares of Ball from a sell rating to a hold rating in a research note on Tuesday, May 7th. Wells Fargo & Co upped their target price on shares of Ball from $66.00 to $68.00 and gave the stock an outperform rating in a research note on Friday, May 17th. Morgan Stanley upped their target price on shares of Ball from $66.00 to $71.00 and gave the stock an overweight rating in a research note on Wednesday, June 5th. Finally, ValuEngine downgraded shares of Ball from a hold rating to a sell rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $60.43.
Ball (NYSE:BLL) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Ball had a net margin of 4.54% and a return on equity of 21.32%. Ball’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.58 earnings per share. As a group, equities research analysts forecast that Ball will post 2.59 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, August 30th. Ball’s dividend payout ratio (DPR) is presently 27.27%.
In other Ball news, Chairman John A. Hayes sold 9,523 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $70.98, for a total transaction of $675,942.54. Following the completion of the transaction, the chairman now owns 437,979 shares in the company, valued at approximately $31,087,749.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeff A. Knobel sold 6,300 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $62.28, for a total transaction of $392,364.00. Following the transaction, the vice president now owns 68,470 shares of the company’s stock, valued at approximately $4,264,311.60. The disclosure for this sale can be found here. Insiders have sold a total of 32,967 shares of company stock valued at $2,184,503 in the last quarter. 1.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Next Capital Management LLC acquired a new position in shares of Ball in the 2nd quarter valued at $25,000. Massey Quick Simon & CO. LLC acquired a new position in shares of Ball in the 1st quarter valued at $30,000. Pearl River Capital LLC acquired a new position in shares of Ball in the 1st quarter valued at $30,000. Whittier Trust Co. boosted its holdings in shares of Ball by 56.0% in the 2nd quarter. Whittier Trust Co. now owns 496 shares of the industrial products company’s stock valued at $35,000 after buying an additional 178 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC acquired a new position in shares of Ball in the 1st quarter valued at $56,000. Institutional investors own 81.06% of the company’s stock.
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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