Ball (NYSE:BALL) Reaches New 12-Month Low - Here's Why

Ball Co. (NYSE:BALL - Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $52.97 and last traded at $53.49, with a volume of 1947363 shares. The stock had previously closed at $53.69.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BALL. Truist Financial dropped their price target on Ball from $78.00 to $73.00 and set a "buy" rating for the company in a research report on Monday. Royal Bank of Canada reissued an "outperform" rating and issued a $75.00 price target on shares of Ball in a research note on Monday, November 4th. Mizuho upgraded shares of Ball from a "neutral" rating to an "outperform" rating and set a $67.00 price objective on the stock in a research report on Tuesday, December 10th. Wells Fargo & Company cut their target price on shares of Ball from $61.00 to $56.00 and set an "equal weight" rating for the company in a research report on Monday. Finally, Citigroup lowered their price target on Ball from $69.00 to $59.00 and set a "neutral" rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.08.

Ball Trading Down 0.4 %

The firm's 50 day moving average is $58.43 and its 200 day moving average is $61.87. 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 company has a market capitalization 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 - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The firm had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.13 billion. Ball had a net margin of 34.05% and a return on equity of 17.46%. The company's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 earnings per share. As a group, equities analysts predict that Ball Co. will post 3.15 EPS for the current year.

Ball Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Monday, December 2nd. Ball's payout ratio is 6.03%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BALL. Peterson Financial Group Inc. bought a new stake in Ball during the third quarter worth about $30,000. Catalyst Capital Advisors LLC bought a new stake in shares of Ball in the 3rd quarter worth approximately $47,000. Quarry LP grew its stake in shares of Ball by 598.6% in the 2nd quarter. Quarry LP now owns 999 shares of the company's stock worth $60,000 after buying an additional 856 shares during the last quarter. Brooklyn Investment Group bought a new position in Ball during the 3rd quarter valued at approximately $66,000. Finally, EverSource Wealth Advisors LLC increased its position in Ball by 334.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,059 shares of the company's stock valued at $68,000 after buying an additional 815 shares in the last quarter. 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.