Zacks Research Has Strong Forecast for Ball FY2024 Earnings

Ball Co. (NYSE:BALL) – Equities research analysts at Zacks Research increased their FY2024 EPS estimates for shares of Ball in a report issued on Thursday, November 14th. Zacks Research analyst M. Das now forecasts that the company will post earnings of $3.14 per share for the year, up from their prior forecast of $3.11. The consensus estimate for Ball’s current full-year earnings is $3.15 per share. Zacks Research also issued estimates for Ball’s Q4 2024 earnings at $0.81 EPS, Q1 2025 earnings at $0.76 EPS, Q2 2025 earnings at $0.84 EPS, Q3 2025 earnings at $0.99 EPS, Q4 2025 earnings at $0.93 EPS, FY2025 earnings at $3.52 EPS, Q1 2026 earnings at $0.92 EPS, Q2 2026 earnings at $0.96 EPS, Q3 2026 earnings at $1.02 EPS and FY2026 earnings at $3.93 EPS.

Ball (NYSE:BALL) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.13 billion. Ball had a net margin of 34.05% and a return on equity of 17.46%. The company’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 EPS.

A number of other research analysts have also recently issued reports on BALL. Morgan Stanley upgraded Ball from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $69.00 to $78.00 in a research note on Wednesday, September 4th. Robert W. Baird raised shares of Ball from a “neutral” rating to an “outperform” rating and set a $70.00 price objective on the stock in a research report on Wednesday, August 14th. Royal Bank of Canada restated an “outperform” rating and set a $75.00 price objective on shares of Ball in a research note on Monday, November 4th. Citigroup increased their price target on shares of Ball from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, UBS Group boosted their price objective on shares of Ball from $56.00 to $59.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. One equities research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $70.75.

Ball Stock Down 1.6 %

NYSE:BALL opened at $60.92 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.09 and a quick ratio of 0.82. The firm’s 50-day moving average price is $64.51 and its 200-day moving average price is $64.58. The company has a market capitalization of $18.18 billion, a PE ratio of 4.59, a P/E/G ratio of 1.53 and a beta of 0.90. Ball has a 1-year low of $51.62 and a 1-year high of $71.32.

Ball Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Monday, December 2nd. Ball’s dividend payout ratio is currently 6.03%.

Hedge Funds Weigh In On Ball

Hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. grew its stake in Ball by 306.6% during the second quarter. QRG Capital Management Inc. now owns 31,750 shares of the company’s stock valued at $1,906,000 after acquiring an additional 23,941 shares in the last quarter. Addenda Capital Inc. increased its holdings in shares of Ball by 7.3% in the second quarter. Addenda Capital Inc. now owns 153,464 shares of the company’s stock worth $9,211,000 after purchasing an additional 10,427 shares during the last quarter. UniSuper Management Pty Ltd lifted its position in shares of Ball by 436.8% in the first quarter. UniSuper Management Pty Ltd now owns 18,010 shares of the company’s stock worth $1,213,000 after buying an additional 14,655 shares in the last quarter. Vanguard Group Inc. boosted its stake in Ball by 0.8% during the first quarter. Vanguard Group Inc. now owns 35,855,312 shares of the company’s stock valued at $2,415,214,000 after buying an additional 267,479 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Ball during the 1st quarter worth approximately $12,292,000. 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.