Ball Co. to Post FY2018 Earnings of $2.26 Per Share, KeyCorp Forecasts (BLL)

Ball Co. (NYSE:BLL) – Equities researchers at KeyCorp boosted their FY2018 earnings estimates for shares of Ball in a research note issued to investors on Sunday. KeyCorp analyst A. Josephson now anticipates that the industrial products company will post earnings per share of $2.26 for the year, up from their previous forecast of $1.92. KeyCorp currently has a “Sector Weight” rating on the stock.

Ball (NYSE:BLL) last announced its earnings results on Wednesday, February 7th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.08. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.64 billion. Ball had a return on equity of 19.20% and a net margin of 3.63%. Ball’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS.

Other research analysts have also issued reports about the company. Citigroup raised Ball from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Wednesday, January 17th. UBS Group initiated coverage on Ball in a research report on Monday, October 23rd. They issued a “buy” rating and a $50.00 price objective for the company. Vertical Research raised Ball from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Friday, December 15th. They noted that the move was a valuation call. TheStreet lowered Ball from a “b-” rating to a “c+” rating in a research report on Thursday, December 14th. Finally, Zacks Investment Research raised Ball from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $45.21.

Shares of Ball (BLL) traded up $0.07 during trading hours on Wednesday, reaching $37.83. The company had a trading volume of 1,127,432 shares, compared to its average volume of 3,712,835. Ball has a twelve month low of $35.60 and a twelve month high of $43.24. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.55 and a current ratio of 0.92. The company has a market cap of $13,137.59, a price-to-earnings ratio of 18.49, a P/E/G ratio of 3.04 and a beta of 0.97.

Several institutional investors and hedge funds have recently modified their holdings of BLL. Iridian Asset Management LLC CT grew its stake in shares of Ball by 25.8% in the 3rd quarter. Iridian Asset Management LLC CT now owns 7,871,056 shares of the industrial products company’s stock valued at $325,075,000 after buying an additional 1,613,246 shares during the period. Lodge Hill Capital LLC acquired a new stake in shares of Ball in the 4th quarter valued at about $39,743,000. Eaton Vance Management grew its stake in shares of Ball by 87.3% in the 4th quarter. Eaton Vance Management now owns 1,523,918 shares of the industrial products company’s stock valued at $57,680,000 after buying an additional 710,179 shares during the period. Bessemer Group Inc. grew its stake in shares of Ball by 19.2% in the 3rd quarter. Bessemer Group Inc. now owns 4,074,776 shares of the industrial products company’s stock valued at $168,289,000 after buying an additional 656,667 shares during the period. Finally, Carillon Tower Advisers Inc. acquired a new stake in shares of Ball in the 4th quarter valued at about $23,561,000. Institutional investors own 89.08% of the company’s stock.

In other news, Chairman John A. Hayes sold 5,519 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $40.74, for a total value of $224,844.06. Following the completion of the sale, the chairman now directly owns 408,451 shares in the company, valued at approximately $16,640,293.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO James N. Peterson sold 1,349 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $38.05, for a total value of $51,329.45. Following the completion of the sale, the chief operating officer now owns 38,008 shares of the company’s stock, valued at $1,446,204.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,241 shares of company stock valued at $638,091. 2.70% of the stock is currently owned by company insiders.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a $0.10 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.06%. Ball’s dividend payout ratio is presently 35.71%.

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About Ball

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.

Earnings History and Estimates for Ball (NYSE:BLL)

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