Zacks Research Analysts Boost Earnings Estimates for Ball

Ball Co. (NYSE:BALL) – Equities researchers at Zacks Research raised their Q4 2024 earnings estimates for Ball in a report released on Wednesday, December 11th. Zacks Research analyst M. Das now expects that the company will post earnings per share of $0.82 for the quarter, up from their previous forecast of $0.81. The consensus estimate for Ball’s current full-year earnings is $3.15 per share.

Ball (NYSE:BALL) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Ball had a net margin of 34.05% and a return on equity of 17.46%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year.

BALL has been the subject of a number of other research reports. Morgan Stanley raised Ball from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $69.00 to $78.00 in a report on Wednesday, September 4th. Citigroup increased their target price on Ball from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price target on shares of Ball in a research note on Monday, November 4th. Mizuho upgraded shares of Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price objective on the stock in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Ball from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.75.

Ball Stock Performance

NYSE:BALL opened at $58.24 on Monday. The firm has a 50-day moving average of $62.05 and a two-hundred day moving average of $63.32. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.09 and a quick ratio of 0.82. The stock has a market cap of $17.38 billion, a P/E ratio of 4.39, a PEG ratio of 1.44 and a beta of 0.91. Ball has a 1-year low of $54.06 and a 1-year high of $71.32.

Hedge Funds Weigh In On Ball

A number of hedge funds and other institutional investors have recently bought and sold shares of BALL. Franklin Resources Inc. increased its holdings in shares of Ball by 4.7% in the 3rd quarter. Franklin Resources Inc. now owns 6,954,876 shares of the company’s stock worth $453,144,000 after acquiring an additional 309,587 shares during the period. FMR LLC increased its stake in shares of Ball by 15.4% in the third quarter. FMR LLC now owns 4,418,570 shares of the company’s stock valued at $300,065,000 after purchasing an additional 588,282 shares during the period. Mirova US LLC raised its holdings in shares of Ball by 0.5% during the second quarter. Mirova US LLC now owns 2,495,497 shares of the company’s stock valued at $149,780,000 after buying an additional 13,320 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Ball by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,414,615 shares of the company’s stock worth $144,951,000 after buying an additional 171,924 shares during the period. Finally, Raymond James & Associates boosted its position in shares of Ball by 6.1% during the third quarter. Raymond James & Associates now owns 1,720,859 shares of the company’s stock worth $116,864,000 after buying an additional 99,306 shares during the period. 86.51% of the stock is currently owned by institutional investors and hedge funds.

Ball Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Monday, December 2nd. Ball’s dividend payout ratio (DPR) is presently 6.03%.

Ball Company Profile

Ball Corporation supplies aluminum packaging products for the beverage, personal care, and household products industries in the United States, Brazil, and internationally. The company manufactures and sells aluminum beverage containers to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.