Ball Corporation (BLL) Announces Earnings Results
Ball Corporation (NYSE:BLL) posted its quarterly earnings results on Thursday. The industrial products company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.07), Bloomberg Earnings reports. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.91 billion. Ball Corporation had a net margin of 1.70% and a return on equity of 17.63%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.40 annualized dividend and a yield of 0.93%. Ball Corporation’s payout ratio is currently 78.43%.
In other Ball Corporation news, Chairman John A. Hayes sold 5,619 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $41.98, for a total transaction of $235,885.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeff A. Knobel sold 5,218 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $40.12, for a total value of $209,346.16. Following the transaction, the vice president now directly owns 68,138 shares of the company’s stock, valued at $2,733,696.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,617 shares of company stock valued at $3,664,485. 2.70% of the stock is currently owned by corporate insiders.
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A number of research analysts have weighed in on BLL shares. Zacks Investment Research downgraded Ball Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. BidaskClub downgraded Ball Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Deutsche Bank AG restated a “buy” rating and issued a $47.00 price target (up from $44.00) on shares of Ball Corporation in a research note on Tuesday, July 18th. Royal Bank Of Canada began coverage on Ball Corporation in a research note on Monday, October 9th. They issued an “outperform” rating and a $46.00 price target for the company. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Ball Corporation in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Ball Corporation has an average rating of “Hold” and an average target price of $44.71.
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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