Ball Co. Expected to Post Q3 2024 Earnings of $0.87 Per Share (NYSE:BALL)

Ball Co. (NYSE:BALL) – Zacks Research boosted their Q3 2024 earnings estimates for shares of Ball in a report released on Tuesday, September 17th. Zacks Research analyst M. Das now expects that the company will earn $0.87 per share for the quarter, up from their prior estimate of $0.86. The consensus estimate for Ball’s current full-year earnings is $3.12 per share. Zacks Research also issued estimates for Ball’s FY2024 earnings at $3.11 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.82 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $0.95 EPS, FY2025 earnings at $3.49 EPS, Q1 2026 earnings at $0.86 EPS and FY2026 earnings at $3.89 EPS.

A number of other research firms have also weighed in on BALL. Morgan Stanley raised Ball from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $69.00 to $78.00 in a research note on Wednesday, September 4th. Baird R W raised shares of Ball from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 14th. Citigroup decreased their price objective on shares of Ball from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Monday, July 8th. UBS Group increased their target price on shares of Ball from $56.00 to $59.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Finally, Wells Fargo & Company reduced their price target on Ball from $64.00 to $61.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.83.

Ball Trading Down 1.2 %

Shares of BALL stock opened at $66.31 on Thursday. The business has a 50-day moving average of $63.70 and a 200 day moving average of $65.13. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.18 and a quick ratio of 0.88. Ball has a 1-year low of $42.81 and a 1-year high of $71.32. The stock has a market capitalization of $20.58 billion, a PE ratio of 4.99, a P/E/G ratio of 1.64 and a beta of 0.88.

Ball (NYSE:BALL) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.10 billion. Ball had a net margin of 32.79% and a return on equity of 19.45%. The company’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share.

Ball Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.20 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.80 annualized dividend and a yield of 1.21%. Ball’s payout ratio is 6.02%.

Institutional Trading of Ball

A number of hedge funds and other institutional investors have recently modified their holdings of BALL. 9258 Wealth Management LLC bought a new position in Ball during the 4th quarter valued at approximately $210,000. Principal Securities Inc. bought a new position in shares of Ball during the fourth quarter valued at $74,000. Quadrant Capital Group LLC raised its position in shares of Ball by 20.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,747 shares of the company’s stock worth $100,000 after purchasing an additional 299 shares during the last quarter. Norges Bank bought a new position in Ball in the 4th quarter worth about $168,372,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in Ball by 27.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 9,164 shares of the company’s stock valued at $527,000 after purchasing an additional 2,001 shares during the last quarter. 86.51% of the stock is owned by hedge funds and other institutional investors.

About Ball

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.