Royal Bank of Canada Reiterates Outperform Rating for Ball (NYSE:BALL)

Royal Bank of Canada reissued their outperform rating on shares of Ball (NYSE:BALL) in a research note released on Monday morning, Benzinga reports. The brokerage currently has a $75.00 price objective on the stock.

A number of other brokerages also recently commented on BALL. Truist Financial restated a “buy” rating and set a $78.00 price objective (up from $76.00) on shares of Ball in a research note on Friday, August 2nd. Citigroup lifted their price objective on shares of Ball from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Robert W. Baird upgraded shares of Ball from a “neutral” rating to an “outperform” rating and set a $70.00 target price for the company in a research report on Wednesday, August 14th. Mizuho cut their price target on Ball from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Wells Fargo & Company decreased their price objective on Ball from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.75.

Ball Stock Up 0.8 %

BALL stock opened at $59.46 on Monday. The firm has a market cap of $17.74 billion, a price-to-earnings ratio of 4.48, a PEG ratio of 1.48 and a beta of 0.90. Ball has a 1-year low of $48.05 and a 1-year high of $71.32. The firm has a fifty day moving average price of $65.08 and a two-hundred day moving average price of $64.99. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.09 and a quick ratio of 0.82.

Ball (NYSE:BALL) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.13 billion. Ball had a net margin of 34.05% and a return on equity of 17.46%. Ball’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 earnings per share. Research analysts predict that Ball will post 3.13 EPS for the current year.

Ball Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Monday, December 2nd. Ball’s payout ratio is currently 6.03%.

Institutional Investors Weigh In On Ball

A number of institutional investors and hedge funds have recently bought and sold shares of the business. First Trust Direct Indexing L.P. raised its holdings in shares of Ball by 3.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 6,132 shares of the company’s stock worth $413,000 after purchasing an additional 210 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Ball during the 1st quarter valued at $208,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ball by 0.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,169 shares of the company’s stock worth $4,255,000 after acquiring an additional 581 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Ball by 4.9% in the 1st quarter. Nordea Investment Management AB now owns 22,020 shares of the company’s stock worth $1,492,000 after acquiring an additional 1,022 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Ball by 8.4% during the first quarter. Daiwa Securities Group Inc. now owns 31,331 shares of the company’s stock worth $2,110,000 after purchasing an additional 2,429 shares during the period. 86.51% of the stock is owned by institutional investors and hedge funds.

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.