FY2016 Earnings Estimate for Ball Corp. (BLL) Issued By Jefferies Group
Ball Corp. (NYSE:BLL) – Equities researchers at Jefferies Group increased their FY2016 earnings per share (EPS) estimates for Ball Corp. in a report released on Monday. Jefferies Group analyst P. Ng now anticipates that the brokerage will earn $3.52 per share for the year, up from their previous estimate of $3.28. Jefferies Group currently has a “Buy” rating and a $93.00 target price on the stock. Jefferies Group also issued estimates for Ball Corp.’s Q4 2016 earnings at $0.89 EPS, FY2017 earnings at $4.42 EPS, FY2018 earnings at $5.31 EPS and FY2019 earnings at $6.17 EPS.
Ball Corp. (NYSE:BLL) last released its earnings results on Thursday, November 3rd. The company reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.01. Ball Corp. had a net margin of 3.54% and a return on equity of 20.89%. The firm earned $2.80 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the firm earned $1.10 EPS. The company’s revenue was up 34.2% compared to the same quarter last year.
Several other equities research analysts have also commented on the stock. Bank of America Corp. reissued a “buy” rating and set a $90.00 price objective on shares of Ball Corp. in a research note on Thursday, September 29th. Citigroup Inc. started coverage on shares of Ball Corp. in a research note on Friday, July 29th. They set a “neutral” rating and a $77.00 price objective on the stock. Zacks Investment Research lowered shares of Ball Corp. from a “buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird reissued an “outperform” rating and set a $85.00 price objective on shares of Ball Corp. in a research note on Sunday, August 7th. Finally, TheStreet raised shares of Ball Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Ball Corp. currently has an average rating of “Buy” and a consensus target price of $85.29.
Ball Corp. (NYSE:BLL) opened at 75.89 on Thursday. The stock’s 50 day moving average is $79.12 and its 200-day moving average is $75.55. Ball Corp. has a 52-week low of $62.30 and a 52-week high of $82.24. The company has a market capitalization of $13.25 billion, a P/E ratio of 43.51 and a beta of 1.05.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.13 per share. The ex-dividend date is Tuesday, November 29th. This represents a $0.52 annualized dividend and a dividend yield of 0.69%. Ball Corp.’s payout ratio is 25.62%.
In other news, VP Shawn M. Barker sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $80.34, for a total transaction of $1,285,440.00. Following the completion of the transaction, the vice president now directly owns 3,397 shares of the company’s stock, valued at $272,914.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cynthia A. Niekamp acquired 3,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were bought at an average cost of $80.37 per share, with a total value of $241,110.00. Following the completion of the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at $241,110. The disclosure for this purchase can be found here. Insiders own 3.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Managed Accounts LLC acquired a new stake in shares of Ball Corp. during the third quarter worth approximately $123,000. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Ball Corp. by 129.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,715 shares of the company’s stock worth $124,000 after buying an additional 968 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Ball Corp. by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,651 shares of the company’s stock worth $192,000 after buying an additional 219 shares in the last quarter. Bank of Nova Scotia acquired a new stake in shares of Ball Corp. during the second quarter worth approximately $205,000. Finally, Creative Planning boosted its stake in shares of Ball Corp. by 25.1% in the third quarter. Creative Planning now owns 2,693 shares of the company’s stock worth $221,000 after buying an additional 540 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.
About Ball Corp.
Ball Corporation (Ball) 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. The Company operates in four segments: metal beverage packaging, Americas and Asia; metal beverage packaging, Europe; metal food and household products packaging, and aerospace and technologies.
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