Ball (NYSE:BALL) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Key Points

• Ball beat quarterly earnings expectations: EPS was $1.10 versus the $1.07 consensus, while revenue reached $4.19 billion, above estimates of $3.78 billion and up 23.9% year over year.
• The stock fell 6.0% despite the earnings beat. Ball opened at $63.98, with a market capitalization of approximately $16.94 billion.
• Ball declared a quarterly dividend of $0.20 per share, equivalent to $0.80 annually and a 1.3% yield. Analysts maintain a “Moderate Buy” consensus with a $71 average price target.

Ball (NYSE:BALL - Get Free Report) announced its earnings results on Tuesday. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.03, Zacks reports. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.78 billion. Ball had a net margin of 6.61% and a return on equity of 18.76%. The company's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 EPS.

Ball Trading Down 6.0%

BALL opened at $63.98 on Tuesday. The company has a fifty day moving average price of $61.23 and a two-hundred day moving average price of $60.91. Ball has a 1-year low of $44.83 and a 1-year high of $68.29. The company has a market cap of $16.94 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 1.27 and a beta of 0.96. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 1.13.

Ball Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, December 1st. Ball's dividend payout ratio (DPR) is presently 22.66%.

Insider Activity

In other news, SVP Mandy Glew sold 5,626 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $63.80, for a total transaction of $358,938.80. Following the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at $459,934.20. This represents a 43.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on BALL. Citigroup lowered Ball from a "buy" rating to a "reduce" rating in a research report on Wednesday, August 5th. Bank of America boosted their target price on shares of Ball from $70.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. raised shares of Ball from a "neutral" rating to an "overweight" rating and set a $65.00 price target on the stock in a research report on Friday, September 18th. Mizuho set a $72.00 price target on shares of Ball in a research note on Wednesday, August 5th. Finally, Truist Financial set a $78.00 price objective on shares of Ball in a research report on Wednesday, August 5th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.00.

About Ball

Ball Corporation is a global supplier of sustainable aluminum packaging. The company primarily manufactures aluminum beverage cans, bottles and cups used by beer, soft-drink, energy-drink and other beverage companies. Its products are designed to support brand presentation, product protection and recycling throughout the packaging lifecycle.

Ball serves customers across North and South America, Europe and other international markets through a network of manufacturing facilities. The company also develops and markets aluminum packaging products for additional consumer and household applications, including its reusable and recyclable Ball Aluminum Cup.

Founded in 1880 as a manufacturer of glass containers, Ball evolved into a major producer of metal packaging and became particularly known for its aluminum beverage cans.

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