Ball Corp Reports Strong Q3 Earnings, Meets Revenue Expectations

Ball Corp (BALL) reported adjusted earnings of $1.02 per share for the quarter ended September 30, up from 91 cents in the same quarter last year and in line with the average analyst estimate. Wall Street forecasts ranged from 98 cents to $1.06 per share.

Revenue rose 9.6% year-over-year to $3.38 billion, slightly above analysts’ expectation of $3.31 billion. The company posted a quarterly net income of $321 million, with reported EPS at $1.18.

Ball Corp shares fell 6.6% over the quarter and are down 14.5% year-to-date. Analysts maintain an average rating of “buy,” with 8 recommending “strong buy” or “buy,” 8 “hold,” and 1 “sell” or “strong sell.”

The median 12-month price target for Ball Corp is $61.00, roughly 22.8% above its last closing price of $47.11.

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