Ball Corp. (NYSE:BLL)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Friday, ARN reports. They currently have a $52.00 price objective on the stock. Zacks‘ price target would suggest a potential upside of 5.41% from the company’s current price.
Zacks‘ analyst wrote, “Ball Corporation’s third-quarter 2013 adjusted earnings increased 11% year over year to $1.00 per share, led by better-than-expected global beverage can volumes and an improved seasonal vegetable harvest. The company will continue to benefit from increased capacity in the Alagoinhas plant, acquisition of Envases del Plata S.A. de C.V and cost cutting measures. Strong free cash flow, dividends and share repurchases are also expected to improve long-term shareholder value. However, loss of customers, continued weak demand for 12 ounce cans and impact of the government shutdown on Aerospace and Technology segment, remain concerns. We are maintaining our Neutral recommendation on Ball Corporation with a target price of $52.00.”
In other Ball Corp. news, Chairman John Hayes sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $49.47, for a total value of $989,400.00. Following the transaction, the chairman now directly owns 125,896 shares of the company’s stock, valued at approximately $6,228,075. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Ball Corp. (NYSE:BLL) traded up 0.95% during mid-day trading on Friday, hitting $49.80. 182,088 shares of the company’s stock traded hands. Ball Corp. has a 52 week low of $41.52 and a 52 week high of $50.71. The stock’s 50-day moving average is $49.09 and its 200-day moving average is $45.65. The company has a market cap of $7.203 billion and a price-to-earnings ratio of 21.82.
Ball Corp. (NYSE:BLL) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.78 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.94 by $0.16. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. Analysts expect that Ball Corp. will post $3.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, November 27th.
A number of other firms have also recently commented on BLL. Analysts at Merrill Lynch upgraded shares of Ball Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Friday, November 15th. Separately, analysts at Bank of America Corp. upgraded shares of Ball Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Friday, November 15th. They now have a $56.00 price target on the stock, up previously from $49.00. Finally, analysts at Barclays raised their price target on shares of Ball Corp. from $51.00 to $52.00 in a research note to investors on Wednesday, October 30th. They now have an “overweight” rating on the stock. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $50.70.
Ball Corporation (NYSE:BLL) is a supplier of metal packaging to the beverage, food, personal care and household products industries.
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