Ball Co. (NYSE:BALL - Get Free Report) declared a quarterly dividend on Wednesday, January 29th,RTT News reports. Investors of record on Monday, March 3rd will be paid a dividend of 0.20 per share on Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Monday, March 3rd.
Ball has raised its dividend by an average of 4.6% per year over the last three years. Ball has a dividend payout ratio of 20.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ball to earn $3.55 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 22.5%.
Ball Trading Down 0.7 %
NYSE BALL traded down $0.40 during trading on Friday, hitting $55.64. 2,366,529 shares of the company's stock traded hands, compared to its average volume of 2,091,424. The firm has a market cap of $16.61 billion, a P/E ratio of 4.20, a PEG ratio of 1.38 and a beta of 0.93. The stock has a fifty day moving average of $56.55 and a two-hundred day moving average of $61.25. 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 $51.96 and a 12-month high of $71.32.
Ball (NYSE:BALL - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Ball had a return on equity of 17.46% and a net margin of 34.05%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company earned $0.83 EPS. Ball's revenue for the quarter was down .9% compared to the same quarter last year. As a group, sell-side analysts expect that Ball will post 3.15 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. UBS Group raised shares of Ball from a "sell" rating to a "neutral" rating and cut their price target for the stock from $62.00 to $58.00 in a report on Friday, January 10th. Truist Financial reduced their price target on Ball from $78.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Morgan Stanley dropped their price objective on Ball from $78.00 to $75.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Wells Fargo & Company reissued an "underweight" rating and set a $49.00 target price (down from $56.00) on shares of Ball in a research note on Thursday, January 16th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $75.00 price target on shares of Ball in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $68.17.
Get Our Latest Stock Report on BALL
Ball declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 29th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 24.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.
Ball Company Profile
(
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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.
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