Ball (NYSE:BLL) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Ball (NYSE:BLL) posted its quarterly earnings data on Thursday. The industrial products company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01), Morningstar.com reports. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.03 billion. Ball had a return on equity of 20.39% and a net margin of 3.83%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 EPS.

NYSE:BLL opened at $74.30 on Friday. The stock has a market cap of $25.02 billion, a P/E ratio of 33.77, a PEG ratio of 5.09 and a beta of 0.81. Ball has a twelve month low of $38.00 and a twelve month high of $76.28. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.77 and a current ratio of 1.09. The stock’s 50 day moving average is $69.74.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, August 30th. Ball’s dividend payout ratio is presently 27.27%.

In other Ball news, Chairman John A. Hayes sold 9,523 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $70.98, for a total transaction of $675,942.54. Following the sale, the chairman now owns 437,979 shares of the company’s stock, valued at approximately $31,087,749.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman John A. Hayes sold 9,111 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.66, for a total transaction of $561,784.26. Following the sale, the chairman now directly owns 472,141 shares in the company, valued at approximately $29,112,214.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,078 shares of company stock worth $2,746,288. 1.80% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in BLL. Geode Capital Management LLC boosted its holdings in shares of Ball by 7.6% in the 4th quarter. Geode Capital Management LLC now owns 4,417,275 shares of the industrial products company’s stock valued at $202,755,000 after acquiring an additional 311,457 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Ball in the 4th quarter valued at $1,825,000. Suntrust Banks Inc. purchased a new stake in shares of Ball in the 4th quarter valued at $240,000. MML Investors Services LLC purchased a new stake in shares of Ball in the 4th quarter valued at $278,000. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of Ball in the 4th quarter valued at $418,000. 81.05% of the stock is currently owned by institutional investors and hedge funds.

BLL has been the subject of several recent analyst reports. Vertical Research lowered shares of Ball from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. BMO Capital Markets lowered shares of Ball from an “outperform” rating to a “market perform” rating and set a $58.10 price objective for the company. in a research note on Monday, April 8th. They noted that the move was a valuation call. Citigroup boosted their price objective on shares of Ball from $69.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. ValuEngine lowered shares of Ball from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, KeyCorp reissued a “hold” rating on shares of Ball in a research report on Friday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $58.01.

About Ball

Ball Corp. provides metal packaging for beverages, foods and household products, and of aerospace and other technologies and services to commercial and governmental customers. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.

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Earnings History for Ball (NYSE:BLL)

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