Equities analysts expect that Ball Co. (NYSE:BLL) will announce $2.88 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Ball’s earnings. The highest sales estimate is $2.99 billion and the lowest is $2.79 billion. Ball reported sales of $3.02 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 4.6%. The company is expected to announce its next quarterly earnings results on Thursday, August 6th.
On average, analysts expect that Ball will report full-year sales of $11.49 billion for the current financial year, with estimates ranging from $11.30 billion to $11.78 billion. For the next year, analysts anticipate that the business will post sales of $12.24 billion, with estimates ranging from $11.70 billion to $12.89 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Ball.
Ball (NYSE:BLL) last issued its earnings results on Thursday, May 7th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Ball had a return on equity of 28.11% and a net margin of 4.11%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the business posted $0.49 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis.
Several equities research analysts have recently issued reports on the company. KeyCorp restated a “hold” rating on shares of Ball in a report on Thursday, May 7th. Goldman Sachs Group upgraded Ball from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $77.00 to $68.00 in a report on Monday, March 23rd. ValuEngine upgraded Ball from a “sell” rating to a “hold” rating in a report on Thursday, April 2nd. Northland Securities restated a “buy” rating and set a $80.00 price objective on shares of Ball in a report on Monday, May 11th. Finally, Barclays decreased their price objective on Ball from $82.00 to $72.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $79.70.
A number of institutional investors have recently modified their holdings of BLL. Wealth Quarterback LLC acquired a new position in Ball in the fourth quarter valued at $5,849,811,000. Norges Bank acquired a new position in Ball in the fourth quarter valued at $190,949,000. Nuveen Asset Management LLC boosted its holdings in Ball by 46.0% in the first quarter. Nuveen Asset Management LLC now owns 3,487,955 shares of the industrial products company’s stock valued at $225,532,000 after acquiring an additional 1,098,470 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Ball by 171.2% in the first quarter. Clearbridge Investments LLC now owns 1,603,170 shares of the industrial products company’s stock valued at $103,661,000 after acquiring an additional 1,011,956 shares during the last quarter. Finally, FIL Ltd raised its position in Ball by 367.8% in the fourth quarter. FIL Ltd now owns 959,774 shares of the industrial products company’s stock valued at $62,069,000 after purchasing an additional 754,628 shares during the period. Hedge funds and other institutional investors own 79.75% of the company’s stock.
NYSE:BLL traded up $0.47 during trading hours on Wednesday, reaching $64.51. 902,830 shares of the company traded hands, compared to its average volume of 1,884,796. The firm’s 50-day moving average is $65.74 and its 200-day moving average is $67.52. The stock has a market cap of $20.88 billion, a P/E ratio of 46.08, a P/E/G ratio of 4.81 and a beta of 0.49. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.06 and a quick ratio of 0.72. Ball has a 1-year low of $51.26 and a 1-year high of $82.82.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, May 29th. Ball’s payout ratio is currently 23.72%.
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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