WESTMINSTER, Colo. - Ball Corporation (NYSE: NYSE:BALL) has declared a quarterly cash dividend of 20 cents per share, which is scheduled to be paid on September 17, 2024, to shareholders of record as of September 3, 2024. The announcement was made by the company's board of directors today.
In addition to the dividend declaration, the company revealed that it will release its second quarter 2024 earnings on Thursday, August 1st, 2024, before the market opens on the New York Stock Exchange. Following the earnings release, Ball Corporation will conduct its regular quarterly conference call at 9 a.m. Mountain time (11 a.m. Eastern time) to discuss the company's financial results and performance.
Shareholders and interested parties can join the conference call via a webcast, accessible through the provided URL. For those wishing to participate in the live call and Q&A session, North American callers can dial in using the number 877-497-9071, while international callers should use +1 201-689-8727. Additionally, a replay and transcript of the call will be made available within 48 hours on Ball's website in the "Events and Presentations" section.
Ball Corporation is known for providing sustainable aluminum packaging solutions to the beverage, personal care, and household products industries. Excluding divested aerospace staff, the company employs approximately 16,000 people globally and reported net sales of $12.06 billion in 2023.
The press release also contained forward-looking statements regarding future events and the company's financial performance. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially.
Ball Corporation advises not to place undue reliance on these forward-looking statements and to read them in conjunction with the cautionary statements that accompany them.
This article is based on a press release statement from Ball Corporation. The information provided is intended for general informational purposes and should not be considered as an endorsement of the company's performance or prospects.
In other recent news, Ball Corporation has seen several significant developments. The company reported a 3.7% increase in global beverage can shipments in the first quarter of 2024, reduced its debt by $2.8 billion following the successful divestment of its aerospace business, and announced plans to return approximately $1.5 billion to its shareholders in 2024 through a robust share repurchase program and dividends.
Truist Securities elevated Ball Corp 's stock from Hold to Buy, highlighting Ball Corp's earnings growth, strong free cash flow generation, and the intention to return a significant portion of that cash to shareholders. This positive outlook was further supported by Ball Corp's resilient volume growth, industry-leading capital returns to shareholders, and low debt levels.
Meanwhile, Wells Fargo (NYSE:WFC) adjusted its outlook on Ball Corp by decreasing the price target to $64.00 from $69.00 while maintaining an Equal Weight rating. The adjustment reflects Ball Corp's revised global volume compound annual growth rate (CAGR) of 2-3%, considered a sustainable forecast for potential earnings growth.
On the personnel front, Ball Corporation welcomed Aaron Erter to its board of directors. With a rich background including roles as CEO of James Hardie (NYSE:JHX) Industries plc and in sales and marketing at Stanley Black & Decker, Erter's expertise is expected to complement the existing board and executive leadership. These are the recent developments at Ball Corporation.
InvestingPro Insights
As Ball Corporation (NYSE: BALL) prepares to share its Q2 2024 financial results, investors may find the company's consistent track record of dividend payments particularly noteworthy. With a history of maintaining dividend payments for 52 consecutive years, Ball Corporation stands out as a reliable dividend payer. This consistency aligns with the company's low price volatility, suggesting a stable investment for those seeking regular income from their stock holdings.
Despite some analysts revising their earnings expectations downwards for the upcoming period, Ball Corporation's market fundamentals paint a broader picture of financial health. With a P/E Ratio of 4.64 and a higher adjusted P/E Ratio for the last twelve months as of Q1 2024 at 28.34, the company shows a solid earnings base relative to its share price. Additionally, the company has been profitable over the last twelve months, which supports the analysts' prediction of profitability for this year.
For investors seeking more in-depth analysis, InvestingPro offers additional insights and metrics. There are currently more tips available on how to interpret Ball Corporation's financial data and market position, which can be accessed through the InvestingPro platform. To enhance your investment research, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
As shareholders anticipate the upcoming earnings call, they can also consider the company's solid gross profit margin of 19.48% and a robust Return on Assets at 21.08% for the last twelve months as of Q1 2024. These metrics, coupled with a stable shareholder yield, suggest that Ball Corporation may continue to be a strong player in its industry. For those interested in further analysis, additional InvestingPro Tips can be found at https://www.investing.com/pro/BALL.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.