Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Ball Corporation (NYSE:BALL) reported better-than-expected first-quarter earnings on Friday.
Ball posted adjusted earnings of 68 cents per share, beating market estimates of 56 cents per share. The company's quarterly sales came in at $2.87 billion, versus estimates of $3.24 billion, according to data from Benzinga Pro.
“We delivered strong first quarter results. Following the successful sale of the aerospace business in mid-February, we have executed on our plans to immediately deleverage, initiate a large multi-year share repurchase program and position the company to enable our purpose of advancing the greater use of sustainable aluminum packaging. We continue to complement our purpose by driving innovation and sustainability on a global scale, unlocking additional manufacturing efficiencies and activating an operating model to enable high-quality, long-term shareholder value creation,” said Daniel W. Fisher, chairman and chief executive officer.
Ball shares gained 6.7% to close at $69.80 on Friday.
These analysts made changes to their price targets on Ball following earnings announcement.
- Baird raised the price target on Ball from $62 to $70. Baird analyst Ghansham Panjabi maintained a Neutral rating.
- Mizuho increased the price target on Ball from $63 to $69. Mizuho analyst John Roberts maintained a Neutral rating.
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