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Ball Corporation (BALL), headquartered in Westminster, Colorado, supplies aluminum packaging products for the beverage, personal care, and household products industries. Valued at $19.27 billion by market cap, the company also supplies aerospace and other technologies and services to commercial and governmental customers. The aluminum packaging provider is expected to announce its fiscal second-quarter earnings for 2024 before the market opens on Thursday, Aug. 1.
Ahead of the event, analysts expect BALL to report a profit of $0.73 per share on a diluted basis, up 19.7% from $0.61 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
For the full year, analysts expect BALL to report EPS of $3.09, up 6.6% from $2.90 in fiscal 2023.
BALL stock has underperformed the S&P 500’s ($SPX) 17.7% gains on a YTD basis, with shares up 8.6% during this period. Similarly, it underperformed the Consumer Disc ETF Vanguard’s (VCR) 8.1% gains over the same time frame.
On Jun. 18, BALL shares closed down more than 6% after the company said it was targeting over 10% long-term EPS growth at its investor day conference, below its previous projections of between 10% and 15% at the 2023 investor day conference.
On Apr. 26, BALL shares closed up more than 6% after reporting Q1 results. Its comparable EPS of $0.68 beat the consensus estimates of $0.55. The company’s global beverage can shipments increased by 3.7%. Since reporting its Q1 results, BALL’s shares have been on a downtrend.
Analysts’ consensus opinion on BALL stock is bullish, with a “Moderate Buy” rating overall. Out of 13 analysts covering the stock, four advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, seven give a “Hold” rating, and one recommends a “Strong Sell.” The average analyst price target for BALL is $71.27, indicating a potential upside of 14.8% from the current levels.
On the date of publication, Dipanjan Banchur did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
