Ball (NYSE:BALL) Hits New 1-Year Low After Earnings Miss

Ball Co. (NYSE:BALLGet Rating) shares reached a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $61.35 and last traded at $61.98, with a volume of 73897 shares. The stock had previously closed at $72.81.

The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.06). The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.55 billion. Ball had a return on equity of 30.66% and a net margin of 4.96%.

Ball Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, August 31st. Ball’s dividend payout ratio (DPR) is presently 35.40%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Atlantic Securities downgraded Ball from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $80.00 to $58.00 in a research report on Friday. Deutsche Bank Aktiengesellschaft downgraded Ball from a “buy” rating to a “hold” rating and decreased their target price for the company from $81.00 to $65.00 in a research report on Friday. Credit Suisse Group decreased their target price on Ball to $91.00 in a research report on Friday, July 22nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $87.00 target price on shares of Ball in a research report on Monday, May 16th. Finally, Royal Bank of Canada decreased their target price on Ball from $74.00 to $64.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, Ball currently has a consensus rating of “Hold” and an average price target of $74.71.

Ball Price Performance

The company has a market capitalization of $18.02 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 3.11 and a beta of 0.56. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.61 and a current ratio of 1.00. The business has a 50-day moving average of $69.27.

About Ball

(Get Rating)

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.

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