Ball Lowered to “Neutral” at Bank of America (BLL)
Ball (NYSE:BLL) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday. They currently have a $65.00 price target on the stock. Bank of America’s price target indicates a potential upside of 7.30% from the company’s current price.
Shares of Ball (NYSE:BLL) opened at 60.58 on Friday. Ball has a 52-week low of $41.52 and a 52-week high of $61.66. The stock has a 50-day moving average of $58.94 and a 200-day moving average of $54.3. The company has a market cap of $8.446 billion and a P/E ratio of 20.86.
Ball (NYSE:BLL) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.69 by $0.12. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts predict that Ball will post $3.77 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, May 29th.
A number of other firms have also recently commented on BLL. Analysts at Citigroup Inc. raised their price target on shares of Ball from $62.00 to $66.00 in a research note on Tuesday, May 6th. Separately, analysts at Deutsche Bank raised their price target on shares of Ball from $53.00 to $60.00 in a research note on Monday, May 5th. They now have a “hold” rating on the stock. They noted that the move was a valuation call. Finally, analysts at Barclays raised their price target on shares of Ball from $55.00 to $56.00 in a research note on Monday, May 5th. They now have an “overweight” rating on the stock. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $57.36.
Ball Corporation (NYSE:BLL) is a supplier of metal packaging to the beverage, food, personal care and household products industries.
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