What to expect from Ball Corporation’s next quarterly earnings report – TradingView News

Ball Corporation BALLbased in Westminster, Colorado, supplies aluminum packaging to the beverage, personal care and household goods industries. The company, valued at $19.27 billion at market capitalization, also provides aerospace and other technologies and services to commercial and government customers. The aluminum packaging supplier is expected to report its fiscal second quarter 2024 earnings before the market opens on Thursday, Aug. 1.

Ahead of the event, analysts expect BALL to report earnings 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 topped Wall Street earnings per share estimates in its last four quarterly reports.

For the full year, analysts expect BALL to report earnings of $3.09 per share, up 6.6% from earnings of $2.90 in fiscal 2023.

BALL stock underperformed the S&P 500 ($SPX)’s 17.7% YTD gain, while the stock was up 8.6% in the period. It also underperformed the Vanguard Consumer Disc ETF’s (VCR) gain of 8.1% in the same period.

BALL shares closed down more than 6% on June 18 after the company announced during an investor conference that it was targeting long-term earnings per share growth of more than 10%, which was worse than the previous guidance of 10% to 15% assumed during an investor conference in 2023.

On April 26, BALL shares closed up more than 6% after Q1 earnings were announced. Comparable earnings per share of $0.68 beat the consensus estimate of $0.55. Global beverage can shipments were up 3.7%. BALL shares have been on a downtrend since Q1 earnings were announced.

Analysts are unanimously bullish on BALL stock, with an overall rating of “Moderate Buy.” Of the 13 analysts covering the stock, four recommend 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 current levels.

On the date of publication, Dipanjan Banchur did not hold (directly or indirectly) a position in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. For more information, please refer to Barchart’s Disclosure Policy here.