Brokers Set Expectations for Berry Global Group, Inc.’s FY2022 Earnings (NYSE:BERY)

Berry Global Group, Inc. (NYSE:BERY – Get Rating) – Research analysts at Jefferies Financial Group lifted their FY2022 earnings per share estimates for Berry Global Group in a report released on Wednesday, August 3rd. Jefferies Financial Group analyst P. Ng now expects that the industrial products company will post earnings of $7.37 per share for the year, up from their previous forecast of $7.25. The consensus estimate for Berry Global Group’s current full-year earnings is $7.40 per share. Jefferies Financial Group also issued estimates for Berry Global Group’s Q4 2022 earnings at $2.19 EPS and FY2023 earnings at $8.04 EPS.

Berry Global Group (NYSE:BERY – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The industrial products company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.09. Berry Global Group had a return on equity of 29.59% and a net margin of 5.16%. During the same quarter last year, the business earned $1.53 EPS.

Other equities research analysts also recently issued reports about the company. StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday. Credit Suisse Group raised Berry Global Group from a “neutral” rating to an “outperform” rating and set a $78.00 price objective on the stock in a report on Wednesday, July 20th. Truist Financial decreased their price objective on Berry Global Group from $77.00 to $70.00 in a report on Thursday. Citigroup decreased their price objective on Berry Global Group from $90.00 to $87.00 in a report on Friday, April 8th. Finally, Robert W. Baird decreased their price objective on Berry Global Group from $83.00 to $73.00 in a report on Friday, May 6th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.22.

Berry Global Group Stock Down 0.9 %

NYSE BERY opened at $55.13 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.10 and a debt-to-equity ratio of 2.90. The stock’s 50 day moving average is $55.56 and its two-hundred day moving average is $58.13. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 0.73 and a beta of 1.19. Berry Global Group has a 1-year low of $50.10 and a 1-year high of $74.73.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Connable Office Inc. raised its position in Berry Global Group by 3.0% in the 4th quarter. Connable Office Inc. now owns 5,671 shares of the industrial products company’s stock worth $418,000 after purchasing an additional 166 shares during the last quarter. Synovus Financial Corp raised its position in Berry Global Group by 1.4% in the 4th quarter. Synovus Financial Corp now owns 15,243 shares of the industrial products company’s stock worth $1,124,000 after purchasing an additional 208 shares during the last quarter. Arizona State Retirement System raised its position in Berry Global Group by 0.7% in the 1st quarter. Arizona State Retirement System now owns 36,655 shares of the industrial products company’s stock worth $2,125,000 after purchasing an additional 239 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Berry Global Group by 4.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,342 shares of the industrial products company’s stock worth $467,000 after purchasing an additional 264 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Berry Global Group by 4.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 8,248 shares of the industrial products company’s stock worth $509,000 after purchasing an additional 314 shares during the last quarter. Institutional investors own 95.74% of the company’s stock.

Berry Global Group Company Profile

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Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.