Equities Analysts Set Expectations for Ball Co.’s Q3 2024 Earnings (NYSE:BALL)

Ball Co. (NYSE:BALL) – Investment analysts at Zacks Research boosted their Q3 2024 earnings per share estimates for shares of Ball in a report released on Tuesday, September 17th. Zacks Research analyst M. Das now expects that the company will post earnings per share of $0.87 for the quarter, up from their prior estimate of $0.86. The consensus estimate for Ball’s current full-year earnings is $3.12 per share. Zacks Research also issued estimates for Ball’s FY2024 earnings at $3.11 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.82 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $0.95 EPS, FY2025 earnings at $3.49 EPS, Q1 2026 earnings at $0.86 EPS and FY2026 earnings at $3.89 EPS.

Other equities research analysts also recently issued research reports about the stock. Citigroup cut their target price on shares of Ball from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Monday, July 8th. Truist Financial reaffirmed a “buy” rating and issued a $78.00 price objective (up previously from $76.00) on shares of Ball in a report on Friday, August 2nd. Baird R W raised Ball from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 14th. Morgan Stanley upgraded Ball from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $69.00 to $78.00 in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company lowered their price objective on shares of Ball from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.83.

Ball Stock Performance

Shares of BALL stock opened at $66.31 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.79. The company has a 50 day moving average price of $63.70 and a 200-day moving average price of $65.13. Ball has a 52 week low of $42.81 and a 52 week high of $71.32. The firm has a market capitalization of $20.58 billion, a PE ratio of 4.99, a P/E/G ratio of 1.64 and a beta of 0.88.

Ball (NYSE:BALL) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.70 by $0.04. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.10 billion. Ball had a return on equity of 19.45% and a net margin of 32.79%. Ball’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the company earned $0.61 EPS.

Ball Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.21%. The ex-dividend date was Tuesday, September 3rd. Ball’s dividend payout ratio is currently 6.02%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Independence Bank of Kentucky bought a new stake in Ball during the first quarter valued at about $47,000. Friedenthal Financial purchased a new position in Ball in the 2nd quarter worth approximately $47,000. Quarry LP lifted its holdings in Ball by 598.6% in the 2nd quarter. Quarry LP now owns 999 shares of the company’s stock worth $60,000 after purchasing an additional 856 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Ball by 334.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,059 shares of the company’s stock worth $68,000 after purchasing an additional 815 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Ball during the 2nd quarter valued at approximately $72,000. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Ball Company Profile

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.