) hit a new 52-week high of $54.19 during the trading session on
Feb 11, before closing lower at $53.94.
Over the past 52 weeks, Ball Corporation's shares have ranged
between a 52-week low of $41.52 on Jun 28, 2013 to the new
52-week high. The company has delivered a one-year return of
about 20.3%. Ball Corporation has a market cap of $7.7 billion.
Average volume of shares traded over the last three months was at
approximately 881K. Ball Corporation has long-term estimated
earnings per share growth rate of 11%.
What's Driving Ball Corporation Upward?
Ball Corporation's shares found support from the news on Feb 3
that Daniel W. Fisher has been named president of North American
Metal Beverage Packaging Division, Americas, succeeding Michael
Hranicka, who recently left the company.
The company's shares gained support from the news on Jan 29 that
its board has sanctioned a stock repurchase program, which allows
the company to buy back up to 20 million shares. Shares further
escalated as the company came up with strong fourth-quarter
earnings on Jan 30. Ball Corporation reported fourth-quarter 2013
adjusted earnings of 86 cents per share, up 34% year over year.
The company delivered an earnings surprise of +17.8%, delivering
straight three quarters of positive surprises.
Ball Corporation expects free cash flow around $550 million for
full-year 2014, due to capital expenditures of approximately $375
million. The company has maintained its long-term diluted
earnings per share growth goal of 10%-15%.
The company will continue to benefit from product launches,
expansion into emerging markets and strong backlog in its
aerospace and technologies segment. Ball Corporation's margins
are expected to grow, driven by continued ramping-up of cost
savings from previous and recent plant closures as well as cost
cutting measures in Europe. Strong free cash flow, dividends and
share repurchases are also expected to generate long-term
The Metal Beverage Packaging, Americas & Asia segment will
benefit from the Alagoinhas plant's third production line, which
is on track. This increased capacity will help the company to
capitalize on the increased demand, spurred by the upcoming
soccer World Cup in Brazil.
In Dec 2013, Ball acquired Envases del Plata S.A. de C.V., a
leading producer of extruded aluminum aerosol packaging in
Mexico. Demand for extruded aluminum packaging for personal care
products continues to increase, thereby providing new
opportunities for Ball's growing business.
Other Stocks to Consider
Ball Corporation retains a short-term Zacks Rank #1. Some other
stocks worth considering in the same sector include
PH Glatfelter Co.
Resolute Forest Products Inc.
), all of which carry a Zacks Rank #1 (Strong Buy).
BALL CORP (BLL): Free Stock Analysis Report
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