Brokerages Expect Ball Co. (BLL) to Announce $0.59 Earnings Per Share

Wall Street analysts expect Ball Co. (NYSE:BLL) to post earnings of $0.59 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Ball’s earnings. The highest EPS estimate is $0.61 and the lowest is $0.55. Ball posted earnings per share of $0.52 in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.5%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Ball will report full year earnings of $2.25 per share for the current year, with EPS estimates ranging from $2.19 to $2.29. For the next fiscal year, analysts anticipate that the business will report earnings of $2.68 per share, with EPS estimates ranging from $2.30 to $2.85. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that cover Ball.

Ball (NYSE:BLL) last posted its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.58 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.58. Ball had a net margin of 4.12% and a return on equity of 19.93%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year.

Several equities research analysts have recently commented on the stock. TheStreet upgraded shares of Ball from a “c+” rating to a “b-” rating in a research note on Wednesday, August 1st. ValuEngine downgraded shares of Ball from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 16th. Barclays boosted their target price on shares of Ball from $42.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, August 9th. Zacks Investment Research upgraded shares of Ball from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Finally, Citigroup reduced their target price on shares of Ball from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, July 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Ball presently has a consensus rating of “Hold” and an average target price of $45.20.

In other news, VP Scott C. Morrison sold 2,143 shares of the business’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $35.80, for a total value of $76,719.40. Following the sale, the vice president now owns 408,256 shares in the company, valued at approximately $14,615,564.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Adviser Investments LLC bought a new position in shares of Ball in the second quarter valued at about $106,000. Piedmont Investment Advisors LLC bought a new position in shares of Ball in the second quarter valued at about $145,000. Wetherby Asset Management Inc. bought a new position in shares of Ball in the first quarter valued at about $203,000. Tiverton Asset Management LLC raised its holdings in shares of Ball by 44.1% in the first quarter. Tiverton Asset Management LLC now owns 5,414 shares of the industrial products company’s stock valued at $215,000 after buying an additional 1,657 shares during the last quarter. Finally, Creative Planning bought a new position in shares of Ball in the second quarter valued at about $215,000. 85.79% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:BLL traded up $0.28 on Friday, hitting $42.42. The stock had a trading volume of 2,125,500 shares, compared to its average volume of 2,891,091. Ball has a twelve month low of $34.71 and a twelve month high of $43.24. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.92 and a current ratio of 1.23. The company has a market capitalization of $14.43 billion, a PE ratio of 20.62, a P/E/G ratio of 3.39 and a beta of 0.88.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 31st. This represents a $0.40 annualized dividend and a dividend yield of 0.94%. Ball’s dividend payout ratio is presently 19.61%.

About Ball

Ball Corporation supplies metal packaging products to the beverage, food, personal care, and household products industries. It operates in five segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.

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