Ball (NYSE:BALL) Price Target Cut to $59.00 by Analysts at Citigroup

Ball (NYSE:BALL) had its price objective cut by Citigroup from $69.00 to $59.00 in a report issued on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages also recently issued reports on BALL. Wells Fargo & Company cut their price target on Ball from $61.00 to $56.00 and set an “equal weight” rating on the stock in a report on Monday. Mizuho upgraded Ball from a “neutral” rating to an “outperform” rating and set a $67.00 target price on the stock in a research note on Tuesday, December 10th. Royal Bank of Canada restated an “outperform” rating and set a $75.00 price target on shares of Ball in a research report on Monday, November 4th. Finally, Truist Financial cut their price objective on shares of Ball from $78.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Ball currently has an average rating of “Moderate Buy” and a consensus target price of $69.08.

Ball Stock Performance

Ball stock opened at $53.49 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. Ball has a 12 month low of $52.97 and a 12 month high of $71.32. The company has a fifty day moving average price of $58.54 and a two-hundred day moving average price of $61.93. The company has a market cap of $15.96 billion, a PE ratio of 4.03, a P/E/G ratio of 1.44 and a beta of 0.93.

Ball (NYSE:BALL) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Ball had a net margin of 34.05% and a return on equity of 17.46%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the business posted $0.83 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. Research analysts expect that Ball will post 3.15 earnings per share for the current year.

Ball Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.50%. Ball’s dividend payout ratio (DPR) is 6.03%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BALL. Everence Capital Management Inc. bought a new position in shares of Ball during the 4th quarter valued at about $774,000. Principal Financial Group Inc. boosted its holdings in Ball by 1.1% during the third quarter. Principal Financial Group Inc. now owns 364,856 shares of the company’s stock worth $24,777,000 after buying an additional 3,967 shares in the last quarter. Copley Financial Group Inc. acquired a new position in Ball in the third quarter worth approximately $504,000. Oddo BHF Asset Management Sas bought a new position in shares of Ball in the third quarter valued at $1,195,000. Finally, Inspire Trust Co. N.A. lifted its position in shares of Ball by 20.0% during the 3rd quarter. Inspire Trust Co. N.A. now owns 48,000 shares of the company’s stock valued at $3,260,000 after acquiring an additional 8,000 shares during the last quarter. 86.51% of the stock is owned by institutional investors and hedge funds.

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.