$2.93 Billion in Sales Expected for Ball Corporation (BLL) This Quarter
Brokerages predict that Ball Corporation (NYSE:BLL) will announce $2.93 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Ball Corporation’s earnings, with the highest sales estimate coming in at $3.01 billion and the lowest estimate coming in at $2.88 billion. Ball Corporation reported sales of $2.82 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.9%. The business is expected to announce its next quarterly earnings results before the market opens on Thursday, November 2nd.
According to Zacks, analysts expect that Ball Corporation will report full year sales of $2.93 billion for the current fiscal year, with estimates ranging from $10.79 billion to $11.02 billion. For the next fiscal year, analysts expect that the company will post sales of $11.24 billion per share, with estimates ranging from $11.09 billion to $11.46 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Ball Corporation.
Ball Corporation (NYSE:BLL) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.02). The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.81 billion. Ball Corporation had a return on equity of 17.63% and a net margin of 1.70%. Ball Corporation’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 earnings per share.
A number of equities analysts have recently issued reports on BLL shares. Zacks Investment Research upgraded Ball Corporation from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Wednesday, July 19th. Deutsche Bank AG restated a “buy” rating and set a $47.00 price objective (up from $44.00) on shares of Ball Corporation in a research report on Tuesday, July 18th. Jefferies Group LLC restated a “buy” rating and set a $50.00 price objective (up from $47.00) on shares of Ball Corporation in a research report on Friday, July 14th. BidaskClub upgraded Ball Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Finally, Barclays PLC raised their price objective on Ball Corporation from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Ball Corporation presently has a consensus rating of “Hold” and a consensus target price of $43.94.
In related news, Chairman John A. Hayes sold 5,545 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $39.73, for a total transaction of $220,302.85. Following the completion of the sale, the chairman now owns 412,834 shares of the company’s stock, valued at $16,401,894.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Lisa Ann Pauley sold 17,090 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $40.79, for a total value of $697,101.10. Following the sale, the senior vice president now directly owns 108,923 shares of the company’s stock, valued at approximately $4,442,969.17. The disclosure for this sale can be found here. Insiders have sold 129,665 shares of company stock valued at $5,265,060 in the last ninety days. 2.70% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp grew its stake in Ball Corporation by 2.1% in the first quarter. Fifth Third Bancorp now owns 3,646 shares of the industrial products company’s stock valued at $271,000 after acquiring an additional 75 shares during the period. HighTower Advisors LLC grew its stake in Ball Corporation by 0.8% in the first quarter. HighTower Advisors LLC now owns 14,201 shares of the industrial products company’s stock valued at $1,055,000 after acquiring an additional 109 shares during the period. Pacer Advisors Inc. grew its stake in Ball Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 3,441 shares of the industrial products company’s stock valued at $256,000 after acquiring an additional 110 shares during the period. Tredje AP fonden grew its stake in Ball Corporation by 2.1% in the second quarter. Tredje AP fonden now owns 11,270 shares of the industrial products company’s stock valued at $476,000 after acquiring an additional 230 shares during the period. Finally, Bailard Inc. grew its stake in Ball Corporation by 2.3% in the first quarter. Bailard Inc. now owns 20,191 shares of the industrial products company’s stock valued at $1,499,000 after acquiring an additional 446 shares during the period. 86.43% of the stock is owned by hedge funds and other institutional investors.
Ball Corporation (BLL) opened at 41.76 on Thursday. The firm has a market capitalization of $14.69 billion, a price-to-earnings ratio of 59.23 and a beta of 0.97. Ball Corporation has a 52-week low of $35.65 and a 52-week high of $43.06. The stock’s 50 day moving average price is $40.40 and its 200 day moving average price is $40.05.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.40 annualized dividend and a yield of 0.96%. Ball Corporation’s dividend payout ratio is currently 78.43%.
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About Ball Corporation
Ball Corporation is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.
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