ValuEngine downgraded shares of Ball (NYSE:BLL) from a sell rating to a strong sell rating in a research note released on Wednesday.
Several other equities research analysts have also issued reports on BLL. JPMorgan Chase reiterated an overweight rating and set a $48.00 target price (up from $47.00) on shares of Ball in a research report on Thursday, February 8th. Zacks Investment Research lowered shares of Ball from a hold rating to a sell rating in a report on Monday, January 29th. Citigroup upgraded shares of Ball from a neutral rating to a buy rating and set a $45.00 price objective for the company in a report on Wednesday, January 17th. KeyCorp upgraded shares of Ball from an underweight rating to a sector weight rating in a report on Monday, February 12th. Finally, TheStreet upgraded shares of Ball from a c+ rating to a b- rating in a report on Tuesday, March 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Ball presently has an average rating of Hold and an average price target of $45.38.
Ball opened at $38.15 on Wednesday, according to Marketbeat. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.69 and a current ratio of 1.07. Ball has a fifty-two week low of $37.72 and a fifty-two week high of $37.94. The stock has a market cap of $13.18 billion, a P/E ratio of 18.70, a PEG ratio of 2.94 and a beta of 0.87.
Ball (NYSE:BLL) last released its quarterly earnings results on Thursday, May 3rd. The industrial products company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.58 billion. Ball had a net margin of 4.04% and a return on equity of 19.86%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. equities research analysts predict that Ball will post 2.33 EPS for the current fiscal year.
Ball announced that its Board of Directors has approved a stock buyback plan on Wednesday, April 25th that permits the company to buyback 25,000,000 outstanding shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, May 31st. Ball’s dividend payout ratio is presently 19.61%.
In other Ball news, SVP Lisa Ann Pauley sold 18,660 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $39.44, for a total transaction of $735,950.40. Following the transaction, the senior vice president now owns 122,208 shares in the company, valued at approximately $4,819,883.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott C. Morrison sold 2,194 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $39.29, for a total transaction of $86,202.26. Following the transaction, the vice president now owns 408,024 shares in the company, valued at approximately $16,031,262.96. The disclosure for this sale can be found here. Insiders have sold a total of 30,007 shares of company stock worth $1,191,115 over the last three months. 2.70% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Xact Kapitalforvaltning AB lifted its stake in Ball by 16.1% during the 4th quarter. Xact Kapitalforvaltning AB now owns 30,310 shares of the industrial products company’s stock valued at $1,147,000 after acquiring an additional 4,192 shares during the period. Guggenheim Capital LLC raised its stake in Ball by 27.9% during the 4th quarter. Guggenheim Capital LLC now owns 1,275,927 shares of the industrial products company’s stock worth $48,293,000 after acquiring an additional 278,408 shares during the period. Envestnet Asset Management Inc. raised its stake in Ball by 108.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 72,415 shares of the industrial products company’s stock worth $2,741,000 after acquiring an additional 37,684 shares during the period. Capital Fund Management S.A. purchased a new stake in Ball during the 4th quarter valued at approximately $3,541,000. Finally, New Mexico Educational Retirement Board grew its holdings in Ball by 4.0% during the 4th quarter. New Mexico Educational Retirement Board now owns 33,828 shares of the industrial products company’s stock valued at $1,280,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 89.95% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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