Equities analysts forecast that Berry Global Group Inc (NYSE:BERY) will announce sales of $2.95 billion for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Berry Global Group’s earnings, with estimates ranging from $2.84 billion to $3.04 billion. Berry Global Group posted sales of $3.02 billion in the same quarter last year, which would indicate a negative year over year growth rate of 2.3%. The company is expected to report its next earnings results on Thursday, November 19th.
On average, analysts expect that Berry Global Group will report full year sales of $11.63 billion for the current financial year, with estimates ranging from $11.54 billion to $11.74 billion. For the next year, analysts expect that the firm will post sales of $11.92 billion, with estimates ranging from $11.54 billion to $12.18 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Berry Global Group.
Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Friday, July 31st. The industrial products company reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.37. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.98 billion. Berry Global Group had a return on equity of 32.39% and a net margin of 5.06%. The business’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same period last year, the company posted $0.90 EPS.
A number of equities research analysts have issued reports on BERY shares. Bank of America increased their target price on shares of Berry Global Group from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Wells Fargo & Company lifted their price objective on Berry Global Group from $56.00 to $64.00 in a research report on Monday, August 3rd. Deutsche Bank upped their target price on Berry Global Group from $46.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. BMO Capital Markets boosted their price target on Berry Global Group from $52.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. They noted that the move was a valuation call. Finally, UBS Group initiated coverage on shares of Berry Global Group in a research report on Thursday, September 17th. They set a “buy” rating and a $70.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. Berry Global Group presently has an average rating of “Buy” and a consensus price target of $58.47.
In other Berry Global Group news, President Curt Begle sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $54.50, for a total value of $545,000.00. Following the sale, the president now owns 10,000 shares of the company’s stock, valued at approximately $545,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl J. Rickertsen sold 14,000 shares of Berry Global Group stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $54.21, for a total value of $758,940.00. Following the completion of the transaction, the director now directly owns 14,000 shares in the company, valued at $758,940. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,916 shares of company stock valued at $5,214,487. Company insiders own 2.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in BERY. Acadian Asset Management LLC bought a new stake in Berry Global Group in the 1st quarter valued at $28,000. Evoke Wealth LLC bought a new stake in shares of Berry Global Group in the second quarter valued at about $42,000. Cerebellum GP LLC acquired a new stake in Berry Global Group during the second quarter worth about $123,000. C M Bidwell & Associates Ltd. bought a new position in Berry Global Group during the first quarter valued at about $94,000. Finally, Riverpark Capital Management LLC raised its holdings in Berry Global Group by 74.2% in the 2nd quarter. Riverpark Capital Management LLC now owns 4,072 shares of the industrial products company’s stock valued at $180,000 after acquiring an additional 1,734 shares in the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.
Shares of BERY stock traded up $0.62 during trading on Wednesday, hitting $49.97. 643,820 shares of the company were exchanged, compared to its average volume of 959,338. The business’s 50-day simple moving average is $51.49 and its 200 day simple moving average is $43.91. Berry Global Group has a twelve month low of $25.00 and a twelve month high of $54.98. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 0.96 and a beta of 1.36. The company has a debt-to-equity ratio of 5.72, a quick ratio of 1.27 and a current ratio of 1.93.
Berry Global Group Company Profile
Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, flashing and seaming tapes, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.
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