Ball (NYSE:BALL) Issues Earnings Results, Misses Estimates By $0.08 EPS

Ball (NYSE:BALL – Get Rating) released its earnings results on Thursday. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.08), Briefing.com reports. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $3.83 billion. Ball had a return on equity of 30.66% and a net margin of 4.96%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the company earned $0.86 earnings per share.

Ball Stock Performance

BALL traded down $2.92 during trading on Friday, reaching $56.36. 9,027,991 shares of the company’s stock were exchanged, compared to its average volume of 2,084,720. The firm has a fifty day moving average of $69.27. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.00 and a quick ratio of 0.61. Ball has a fifty-two week low of $55.49 and a fifty-two week high of $98.09. The firm has a market cap of $18.02 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 3.11 and a beta of 0.56.

Ball Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Wednesday, August 31st. Ball’s payout ratio is 35.40%.

Analyst Ratings Changes

A number of research firms have weighed in on BALL. Wells Fargo & Company downgraded Ball from an “equal weight” rating to an “underweight” rating and set a $65.00 target price for the company. in a research report on Thursday, June 9th. Jefferies Financial Group reiterated a “hold” rating and set a $87.00 price objective on shares of Ball in a research report on Monday, May 16th. Truist Financial downgraded Ball from a “buy” rating to a “hold” rating and increased their price objective for the company from $83.94 to $93.00 in a research report on Thursday. Credit Suisse Group cut their price objective on Ball to $91.00 in a research report on Friday, July 22nd. Finally, Royal Bank of Canada reduced their target price on Ball from $74.00 to $64.00 in a report on Friday. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.71.

About Ball

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Ball Corporation supplies aluminum packaging products for the beverage, personal care, and household products industries in the United States, Brazil, and internationally. It operates through four segments: Beverage Packaging, North and Central America; Beverage Packaging, Europe, Middle East and Africa; Beverage Packaging, South America; and Aerospace.