Ball Corporation (NYSE: BALL) stock fell -0.75% on Thursday to $53.29 against a previous-day closing price of $53.69. With 1.6 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.64 million shares. During the session, the Packaging & Containers company that operates in wider Consumer Cyclical sector, reached to the highest price of $53.57 whereas the lowest price it dropped to was $52.55. The 52-week range on BALL shows that it touched its highest point at $74.49 and its lowest point at $46.00 during that stretch. It currently has a 1-year price target of $60.50. With its current market cap of 16.90 billion, BALL has annualized dividend of $0.80 while the current yield stands at 1.50%. Beta for the stock currently stands at 0.78.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BALL was down-trending over the past week, with a drop of -3.21%, but this was up by 4.00% over a month. Three-month performance dropped to -6.26% while six-month performance fell -3.81%. The stock lost -23.99% in the past year, while it has gained 4.20% so far this year. A look at the trailing 12-month EPS for BALL yields 1.42 with Next year EPS estimates of 3.50. For the next quarter, that number is 0.62. This implies an EPS growth rate of -14.00% for this year and 13.87% for next year. EPS is expected to grow by 3.10% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 11.90%.
Float and Shares Shorts:
At present, 314.24 million BALL shares are outstanding with a float of 311.88 million shares on hand for trading. On Apr 27, 2023, short shares totaled 17.52 million, which was 5.57% higher than short shares on Mar 30, 2023. In addition to Mr. Daniel William Fisher as the firm’s Chairman & CEO, Mr. Scott C. Morrison serves as its Exec. VP & CFO.
Other institutions hold 53.55% of BALL, in contrast to 5.46% held by mutual funds. Shares owned by individuals account for 36.26%. As the largest shareholder in BALL with 11.01% of the stake, The Vanguard Group, Inc. holds 34,629,092 shares worth 34,629,092. A second-largest stockholder of BALL, Parnassus Investments LLC, holds 20,204,197 shares, controlling over 6.43% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in BALL, holding 15,396,865 shares or 4.90% stake. With a 3.76% stake in BALL, the Parnassus Core Equity Fund is the largest stakeholder. A total of 11,805,203 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.11% of BALL stock, is the second-largest Mutual Fund holder. It holds 9,778,449 shares valued at 520.02 million. T Rowe Price Mid Cap Growth Fund holds 2.38% of the stake in BALL, owning 7,472,800 shares worth 397.4 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, BALL reported revenue of $4.13B and operating income of $360.00M. The EBITDA in the recently reported quarter was $526.00M and diluted EPS was -$0.55.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BALL since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BALL analysts setting a high price target of $75.00 and a low target of $52.00, the average target price over the next 12 months is $61.00. Based on these targets, BALL could surge 40.74% to reach the target high and fall by -2.42% to reach the target low. Reaching the average price target will result in a growth of 14.47% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded BALL stock several times over the past three months with 6 Buys and 0 Sells. In these transactions, 11,484 shares were bought while 0 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 281,113 while 306,746 shares were sold.