Berry Global Group, Inc. (NYSE:BERY) Expected to Post Earnings of $1.31 Per Share


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Analysts expect that Berry Global Group, Inc. (NYSE:BERY) will announce earnings of $1.31 per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Berry Global Group’s earnings, with the lowest EPS estimate coming in at $1.19 and the highest estimate coming in at $1.37. Berry Global Group reported earnings of $1.19 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.1%. The company is expected to issue its next quarterly earnings report on Friday, May 7th.

According to Zacks, analysts expect that Berry Global Group will report full year earnings of $5.39 per share for the current fiscal year, with EPS estimates ranging from $5.20 to $5.57. For the next fiscal year, analysts forecast that the business will report earnings of $5.87 per share, with EPS estimates ranging from $5.65 to $6.25. Zacks’ EPS averages are an average based on a survey of research firms that follow Berry Global Group.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Thursday, February 4th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.18. Berry Global Group had a return on equity of 35.39% and a net margin of 4.77%. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the previous year, the business earned $0.56 EPS. Berry Global Group’s revenue for the quarter was up 11.4% compared to the same quarter last year.

A number of research firms recently issued reports on BERY. Citigroup boosted their price objective on Berry Global Group from $67.00 to $70.00 in a research report on Tuesday, February 9th. BMO Capital Markets boosted their price objective on Berry Global Group from $60.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, February 8th. Finally, Morgan Stanley boosted their price target on Berry Global Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, February 8th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $63.80.

BERY stock traded down $1.15 during midday trading on Thursday, hitting $61.20. 18,829 shares of the company’s stock were exchanged, compared to its average volume of 1,071,473. The company has a current ratio of 1.75, a quick ratio of 1.17 and a debt-to-equity ratio of 4.86. Berry Global Group has a 12-month low of $33.97 and a 12-month high of $63.24. The firm has a 50 day moving average price of $59.14 and a 200-day moving average price of $54.07. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 1.00 and a beta of 1.37.

In other news, EVP Jason K. Greene sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00. Following the sale, the executive vice president now directly owns 15,250 shares of the company’s stock, valued at $915,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Curt Begle sold 18,000 shares of the business’s stock in a transaction on Tuesday, March 23rd. The stock was sold at an average price of $62.00, for a total value of $1,116,000.00. Following the sale, the president now directly owns 18,000 shares in the company, valued at $1,116,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,000 shares of company stock valued at $4,023,000. Insiders own 2.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of BERY. Harvest Fund Management Co. Ltd acquired a new position in Berry Global Group in the 4th quarter worth about $34,000. Heritage Wealth Advisors boosted its stake in shares of Berry Global Group by 104.2% during the 4th quarter. Heritage Wealth Advisors now owns 931 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 475 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Berry Global Group by 208.5% during the 4th quarter. Signaturefd LLC now owns 1,823 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 1,232 shares in the last quarter. Perigon Wealth Management LLC bought a new stake in shares of Berry Global Group during the 4th quarter worth about $174,000. Finally, Fieldpoint Private Securities LLC bought a new stake in shares of Berry Global Group during the 4th quarter worth about $190,000. 95.53% of the stock is currently owned by institutional investors.

About Berry Global Group

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. Its Consumer Packaging International segment offers closures, dispensing systems, and applicators; inhalers and dose counters; polythene films; packaging solutions for consumer and industrial applications in personal care, beverage, and food markets; injection molded and thermoformed containers, and lids; and molds and molded components, as well as recycles rigid and flexible end of life materials from industrial and consumer sources.

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