Ball Rating Reiterated by Deutsche Bank (BLL)
Ball (NYSE:BLL)‘s stock had its “hold” rating restated by Deutsche Bank in a research note issued on Friday. They currently have a $62.00 target price on the stock, up from their previous target price of $60.00. Deutsche Bank’s price objective points to a potential upside of 1.21% from the stock’s previous close.
The analysts wrote, “Clean Q2 beat drive by Europe and Aerospace: Modestly adj. estimates & PT. Adj. EPS of $1.13 vs. DB @ $1.02 and consensus @ $1.03. Adj. EBIT of $265M vs. DB @ $255M. Q2’13 EBIT = $226M. Relative to our model, the beat owes to better-than-expected operating performance ($0.05) driven by strength in Metal Bev Europe and Aerospace, as well as lower corp. expense. A lower tax rate also helped vs. our model ($0.02). Beverage demand trends encouraging: Ball noted strong demand in NA (beer/specialty cans) and double-digit gains y/y in China and Brazil. Europe volumes were up mid-single-digits. We are modestly raising estimates due to the Q2 beat Maintain Hold.”
A number of other analysts have also recently weighed in on BLL. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Ball in a research note on Thursday, July 17th. They now have a $60.00 price target on the stock, up previously from $57.00. Separately, analysts at Jefferies Group raised their price target on shares of Ball from $52.00 to $57.00 in a research note on Friday, July 11th. They now have a “hold” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Ball from $62.00 to $70.00 in a research note on Wednesday, June 25th. They now have an “outperform” rating on the stock. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Ball has an average rating of “Hold” and a consensus price target of $61.67.
Shares of Ball (NYSE:BLL) traded up 0.95% during mid-day trading on Friday, hitting $61.84. The stock had a trading volume of 162,021 shares. Ball has a 52 week low of $43.94 and a 52 week high of $64.91. The stock has a 50-day moving average of $62.60 and a 200-day moving average of $57.21. The company has a market cap of $8.621 billion and a price-to-earnings ratio of 20.98.
Ball (NYSE:BLL) last announced its earnings results on Thursday, July 31st. The company reported $1.13 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.03 by $0.10. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts predict that Ball will post $3.80 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, August 28th.
Ball Corporation (NYSE:BLL) is a supplier of metal packaging to the beverage, food, personal care and household products industries.
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