Ball Co. (NYSE:BLL) – Investment analysts at KeyCorp decreased their Q2 2018 EPS estimates for Ball in a research note issued to investors on Tuesday, June 26th. KeyCorp analyst A. Josephson now expects that the industrial products company will post earnings per share of $0.56 for the quarter, down from their previous estimate of $0.59. KeyCorp currently has a “Hold” rating on the stock.
Ball (NYSE:BLL) last announced its earnings results on Thursday, May 3rd. The industrial products company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Ball had a return on equity of 19.86% and a net margin of 4.04%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share.
Several other equities analysts have also recently issued reports on BLL. TheStreet upgraded Ball from a “c+” rating to a “b-” rating in a report on Tuesday, March 6th. ValuEngine cut Ball from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Finally, Zacks Investment Research upgraded Ball from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Wednesday, April 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Ball has a consensus rating of “Hold” and an average price target of $45.38.
Ball stock opened at $35.55 on Friday. The stock has a market capitalization of $12.31 billion, a P/E ratio of 17.43, a PEG ratio of 2.78 and a beta of 0.85. Ball has a 12-month low of $34.71 and a 12-month high of $43.24. The company has a current ratio of 1.07, a quick ratio of 0.69 and a debt-to-equity ratio of 1.72.
Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new position in Ball in the fourth quarter valued at about $121,000. Wetherby Asset Management Inc. acquired a new position in Ball in the first quarter valued at about $203,000. Tiverton Asset Management LLC lifted its stake in 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 period. Granite Investment Advisors LLC acquired a new stake in shares of Ball during the fourth quarter worth about $227,000. Finally, TLP Group LLC raised its position in shares of Ball by 643,200.0% during the first quarter. TLP Group LLC now owns 6,433 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 6,432 shares during the period. 86.77% of the stock is currently owned by hedge funds and other institutional investors.
In other Ball news, VP Scott C. Morrison sold 2,143 shares of the stock in a transaction dated Wednesday, June 20th. The stock was sold at an average price of $35.80, for a total value of $76,719.40. Following the transaction, the vice president now owns 408,256 shares of the company’s stock, valued at $14,615,564.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Scott C. Morrison sold 2,225 shares of the stock in a transaction dated Thursday, April 19th. The shares were sold at an average price of $41.18, for a total value of $91,625.50. Following the completion of the transaction, the vice president now directly owns 408,256 shares in the company, valued at approximately $16,811,982.08. The disclosure for this sale can be found here. Insiders sold 6,535 shares of company stock worth $250,279 in the last three months. Insiders own 2.70% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 1st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Thursday, May 31st. Ball’s payout ratio is 19.61%.
Ball announced that its board has approved a share buyback program on Wednesday, April 25th that allows the company to buyback 25,000,000 outstanding shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Ball Company Profile
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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