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BLL

Ball Corp.

$36.93

0.42 (1.15%)

06:06
02/07/18
02/07
06:06
02/07/18
06:06

Ball Corp. sees tax reform lowering effective tax rate on comparable earnings

"Our 2017 free cash flow exceeded $920 million supported by approximately $325 million in year-over-year working capital reductions. The company's EVA discipline and relentless attention on our balance sheet will result in multi-year returns of value to shareholders in 2018 and beyond. Year-end net debt of $6.5 billion was nearly $400 million lower versus last year despite $275 million of higher year-over-year foreign exchange rates on our foreign currency-denominated debt, pension funding of approximately $200 million, and $205 million of combined share repurchases and dividends. In 2018, our free cash flow is estimated to be in the range of $900 million after capital spending of at least $600 million, and our initial estimates are to return approximately $500 million to shareholders in the form of share buybacks and dividends," said Scott Morrison, senior vice president and CFO. "Our company finished the year very strong and we were in line with or above the financial goals we set out for the newly combined business in mid-2016. Aluminum packaging continues to be consumers' package of choice. We are encouraged by the U.S. Tax Cuts and Jobs Act's potential to stimulate the U.S. middle class, which should benefit our end markets, and we estimate the Act will lower our global effective tax rate on comparable earnings from approximately 25 percent in 2017 to approximately 23 percent in 2018. As we look forward, our synergy capture plans remain on track and we expect to make continued progress in 2018 as we drive toward our 2019 goals of $2 billion of comparable EBITDA and in excess of $1 billion of free cash flow," Hayes said.

  • 07

    Feb

BLL Ball Corp.
$36.93

0.42 (1.15%)

12/08/17
12/08/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. D.R. Horton (DHI) downgraded to Market Perform from Outperform at Keefe Bruyette. 2. Ball Corp. (BLL) and Silgan Holdings (SLGN) were downgraded to Underweight from Sector Weight at KeyBanc. 3. Ciena (CIEN) downgraded to Neutral from Overweight at Piper Jaffray with analyst Troy Jensen saying he sees 2018 being a more challenging year for the company. 4. Sigma Designs (SIGM) was downgraded to Hold from Buy at Lake Street, Benchmark, and Craig-Hallum. 5. HollyFrontier (HFC) downgraded to Underperform from Neutral at BofA/Merrill with analyst Doug Leggate citing full valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/15/17
VERT
12/15/17
UPGRADE
VERT
Buy
Ball Corp. upgraded to Buy on valuation at Vertical Research
Vertical Research analyst Chip Dillon upgraded Ball Crop to Buy from Hold citing the recent drop in shares and maintained a $44 price target
01/17/18
SBSH
01/17/18
UPGRADE
Target $45
SBSH
Buy
Ball Corp. upgraded to Buy from Neutral at Citi
Citi analyst Anthony Pettinari upgraded Ball Corp. to Buy and raised his price target for the shares to $45 from $43. The analyst views the recent selloff as overdone and sees an attractive entry point at current share levels. He also sees a "compelling setup" into Ball's Q4 results.
01/17/18
JPMS
01/17/18
DOWNGRADE
Target $30
JPMS
Underweight
Silgan Holdings downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Tyler Langton downgraded Silgan Holdings (SLGN) to Underweight and lowered his price target for the shares to $30 from $32. The analyst cites valuation for the downgrade, noting Silgan is trading at a premium to Crown Holdings (CCK) on a free cash flow yield basis despite its lower margins and growth potential. The analyst names Berry Global (BERY), Ball Corp. (BLL) and Crown Holdings his top Packaging picks for 2018. He sees the sector's earnings growth rebounding this year.

TODAY'S FREE FLY STORIES

AMRX

Amneal Pharmaceuticals

$17.02

-1.18 (-6.48%)

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CDNA

CareDx

$14.60

-0.145 (-0.98%)

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$14.07

-0.55 (-3.76%)

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NTRA

Natera

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ABMD

Abiomed

$438.06

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ECL

Ecolab

$141.52

-2.14 (-1.49%)

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PMI Composite Flash â€' Level to be reported at 09:45 »

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QGEN

Qiagen

$36.20

-0.23 (-0.63%)

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AOBC

American Outdoor Brands

$12.80

-0.42 (-3.18%)

04:55
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  • 22

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NGVT

Ingevity

$82.89

-0.12 (-0.14%)

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  • 22

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SBUX

Starbucks

$50.62

-1.6 (-3.06%)

04:55
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Conference/Events
Starbucks management to meet with Wedbush »

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  • 22

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AMGN

Amgen

$186.00

-0.51 (-0.27%)

, ARRY

Array BioPharma

$19.56

-0.43 (-2.15%)

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AMGN

Amgen

$186.00

-0.51 (-0.27%)

ARRY

Array BioPharma

$19.56

-0.43 (-2.15%)

BAYRY

Bayer

$0.00

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HALO

Halozyme

$18.59

-0.88 (-4.52%)

INCY

Incyte

$72.47

-0.97 (-1.32%)

LLY

Eli Lilly

$86.07

-0.17 (-0.20%)

MRK

Merck

$61.17

-0.125 (-0.20%)

SHPG

Shire

$162.43

1.81 (1.13%)

RHHBY

Roche

$0.00

(0.00%)

SNY

Sanofi

$39.02

-0.38 (-0.96%)

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TAC

TransAlta

$4.95

(0.00%)

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Conference/Events
TransAlta management to meet with RBC Capital »

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  • 22

    Jun

NUVA

NuVasive

$55.48

-1.18 (-2.08%)

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HUBG

Hub Group

$53.05

-0.8 (-1.49%)

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PVAC

Penn Virginia

$79.38

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, ALOG

Analogic

$83.98

0.025 (0.03%)

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PVAC

Penn Virginia

$79.38

-1.7 (-2.10%)

ALOG

Analogic

$83.98

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FLR

Fluor

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  • 22

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INST

Instructure

$45.00

-1.675 (-3.59%)

04:55
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Instructure management to meet with Needham »

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  • 22

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RLH

Red Lion Hotels

$11.70

-0.15 (-1.27%)

04:55
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Red Lion Hotels management to meet with Craig Hallum »

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  • 22

    Jun

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NUVA

NuVasive

$55.48

-1.18 (-2.08%)

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IRTC

iRhythm

$79.00

-1.67 (-2.07%)

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  • 22

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EURN

Euronav NV

$9.80

0.1 (1.03%)

04:55
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  • 22

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