Based in Westminster, Colorado, Ball Corporation (BALL) is a global leader in metal packaging, supplying the beverage, personal care, and household products industries. Valued at $20.5 billion by market cap, its packaging solutions serve major multinational companies. The packaging company is expected to announce its fiscal third-quarter earnings for 2024 on Thursday, Oct. 31.

Ahead of the event, analysts expect BALL to report a profit of $0.87 per share on a diluted basis, up 4.8% from $0.83 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in all of its last four quarterly reports. 

For the full year, analysts expect BALL to report EPS of $3.12, up 7.6% from $2.90 in fiscal 2023.

BALL stock is up 13.8% on a YTD basis,  underperforming the S&P 500’s ($SPX) 22.7% gains. However, it has outperformed the Consumer Discretionary Select Sector SPDR Fund’s (XLY) 10.3% gains over the same time frame.

On Sept. 4, BALL shares rose over 1% following an upgrade by Morgan Stanley (MS), which raised the stock's rating to "Overweight" from "Equal-Weight" and set a price target of $78.

Moreover, BALL shares jumped 1.1% after the release of its Q2 earnings on Aug. 1. While its EPS beat the market expectations, its revenue fell short of Wall Street’s expectations. 

Analysts’ consensus opinion on BALL stock is fairly bullish, with a “Moderate Buy” rating overall. Out of 14 analysts covering the stock, five advise a “Strong Buy” rating, two suggest a “Moderate Buy” rating, six give a “Hold” rating, and the remaining analyst recommends a “Strong Sell.” 

The average analyst price target for BALL is $72.46, indicating a potential upside of 12.4% from the current levels. 

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On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.