Mizuho Has Lowered Expectations for Ball (NYSE:BALL) Stock Price

Ball (NYSE:BALL) had its target price reduced by Mizuho from $69.00 to $67.00 in a report released on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently issued reports on the stock. Citigroup lifted their price target on shares of Ball from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. UBS Group boosted their target price on shares of Ball from $56.00 to $59.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Royal Bank of Canada dropped their target price on Ball from $77.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Truist Financial reaffirmed a “buy” rating and set a $78.00 price target (up from $76.00) on shares of Ball in a report on Friday, August 2nd. Finally, Morgan Stanley upgraded Ball from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $69.00 to $78.00 in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ball presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.75.

Ball Stock Performance

Shares of BALL stock opened at $59.46 on Monday. Ball has a 52 week low of $48.05 and a 52 week high of $71.32. The firm has a 50 day moving average of $65.08 and a two-hundred day moving average of $64.99. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $17.74 billion, a PE ratio of 4.48, a P/E/G ratio of 1.48 and a beta of 0.90.

Ball (NYSE:BALL) last released its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Ball had a return on equity of 17.46% and a net margin of 34.05%. Ball’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS. On average, research analysts predict that Ball will post 3.13 EPS for the current fiscal year.

Ball Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Monday, December 2nd. Ball’s payout ratio is currently 6.03%.

Hedge Funds Weigh In On Ball

A number of hedge funds have recently modified their holdings of BALL. Friedenthal Financial acquired a new stake in Ball during the 2nd quarter worth $47,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Ball in the third quarter valued at about $47,000. Quarry LP boosted its stake in shares of Ball by 598.6% during the second quarter. Quarry LP now owns 999 shares of the company’s stock worth $60,000 after buying an additional 856 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Ball by 334.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,059 shares of the company’s stock worth $68,000 after buying an additional 815 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in Ball by 29.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,011 shares of the company’s stock valued at $69,000 after acquiring an additional 228 shares during the period. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

About Ball

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.