Ball Corporation (NYSE: BALL) stock jumped 3.34% on Thursday to $52.58 against a previous-day closing price of $50.88. With 1.99 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.76 million shares. During the session, the Packaging & Containers company that operates in wider Consumer Cyclical sector, reached to the highest price of $52.94 whereas the lowest price it dropped to was $51.20. The 52-week range on BALL shows that it touched its highest point at $62.14 and its lowest point at $46.00 during that stretch. It currently has a 1-year price target of $60.91. With its current market cap of 16.31 billion, BALL has annualized dividend of $0.80 while the current yield stands at 1.52%. Beta for the stock currently stands at 0.81.
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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 up-trending over the past week, with a rise of 2.52%, but this was down by -5.28% over a month. Three-month performance dropped to -3.45% while six-month performance rose 0.92%. The stock lost -10.24% in the past year, while it has gained 2.82% so far this year. A look at the trailing 12-month EPS for BALL yields 2.52 with Next year EPS estimates of 3.29. For the next quarter, that number is 0.81. This implies an EPS growth rate of -14.00% for this year and 10.91% 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, 314.56 million BALL shares are outstanding with a float of 313.43 million shares on hand for trading. On Aug 30, 2023, short shares totaled 16.41 million, which was 5.21% higher than short shares on Jul 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.
Institutional Ownership:
Through their ownership of 90.21% of BALL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.19% of BALL, in contrast to 5.45% held by mutual funds. Shares owned by individuals account for 32.04%. As the largest shareholder in BALL with 10.99% of the stake, The Vanguard Group, Inc. holds 34,565,765 shares worth 34,565,765. A second-largest stockholder of BALL, Parnassus Investments LLC, holds 20,340,826 shares, controlling over 6.47% of the firm’s shares. T. Rowe Price Investment Manageme is the third largest shareholder in BALL, holding 17,342,544 shares or 5.51% stake. With a 3.75% 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 3.12% of BALL stock, is the second-largest Mutual Fund holder. It holds 9,797,601 shares valued at 575.02 million. T Rowe Price Mid Cap Growth Fund holds 2.72% of the stake in BALL, owning 8,547,700 shares worth 501.66 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 Jun 29, 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.
Analysts Ratings:
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 $55.00, the average target price over the next 12 months is $60.61. Based on these targets, BALL could surge 42.64% to reach the target high and rise by 4.6% to reach the target low. Reaching the average price target will result in a growth of 15.27% 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 1 Buys and 1 Sells. In these transactions, 400 shares were bought while 115 shares were sold. The number of buy transactions has increased to 10 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 47,884 while 118,573 shares were sold.
