Berry Global Group (BERY) Scheduled to Post Quarterly Earnings on Thursday

Berry Global Group (NYSE:BERY) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, May 9th. Analysts expect Berry Global Group to post earnings of $1.92 per share for the quarter. Berry Global Group has set its FY24 guidance at $7.35-7.85 EPS and its FY 2024 guidance at 7.350-7.850 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.07). Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the business posted $1.30 EPS. The business’s quarterly revenue was down 6.8% on a year-over-year basis. On average, analysts expect Berry Global Group to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Berry Global Group Price Performance

BERY opened at $60.13 on Tuesday. Berry Global Group has a one year low of $53.92 and a one year high of $69.93. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.67 and a quick ratio of 0.95. The company’s 50 day simple moving average is $58.61 and its 200-day simple moving average is $61.51. The stock has a market capitalization of $6.97 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 0.80 and a beta of 1.24.

Insider Activity

In other news, Director Jonathan F. Foster acquired 1,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was bought at an average price of $58.49 per share, with a total value of $58,490.00. Following the transaction, the director now directly owns 5,728 shares in the company, valued at approximately $335,030.72. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Jonathan F. Foster bought 1,000 shares of Berry Global Group stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $58.49 per share, with a total value of $58,490.00. Following the acquisition, the director now owns 5,728 shares of the company’s stock, valued at approximately $335,030.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter T. Thomas bought 2,000 shares of Berry Global Group stock in a transaction that occurred on Thursday, February 8th. The shares were bought at an average cost of $56.00 per share, with a total value of $112,000.00. Following the acquisition, the director now directly owns 2,000 shares in the company, valued at approximately $112,000. The disclosure for this purchase can be found here. Insiders own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Mizuho decreased their price target on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Robert W. Baird reissued a “neutral” rating and set a $65.00 price target (down from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. Truist Financial reissued a “hold” rating and set a $68.00 price target (down from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. TheStreet cut shares of Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Finally, Wolfe Research initiated coverage on shares of Berry Global Group in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $72.00.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.