Berry Global Group Inc (NYSE:BERY) – Stock analysts at SunTrust Banks lifted their Q2 2018 earnings per share (EPS) estimates for shares of Berry Global Group in a research note issued to investors on Monday, Zacks Investment Research reports. SunTrust Banks analyst J. Freuchtel now anticipates that the industrial products company will earn $0.94 per share for the quarter, up from their prior estimate of $0.93. SunTrust Banks currently has a “Buy” rating and a $69.00 target price on the stock. SunTrust Banks also issued estimates for Berry Global Group’s Q3 2018 earnings at $1.04 EPS, Q4 2018 earnings at $0.97 EPS, Q1 2019 earnings at $0.83 EPS, Q2 2019 earnings at $1.03 EPS, Q3 2019 earnings at $1.11 EPS, Q4 2019 earnings at $1.06 EPS and FY2019 earnings at $4.02 EPS.
Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Thursday, November 16th. The industrial products company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.08. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Berry Global Group had a return on equity of 58.69% and a net margin of 4.79%. The company’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share.
Several other analysts have also weighed in on the company. Citigroup reissued a “buy” rating on shares of Berry Global Group in a report on Thursday, August 31st. BidaskClub lowered Berry Global Group from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Deutsche Bank boosted their price objective on Berry Global Group from $60.00 to $66.00 and gave the company a “buy” rating in a report on Friday, November 17th. BMO Capital Markets boosted their price objective on Berry Global Group from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Monday, November 20th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Berry Global Group in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. Berry Global Group currently has a consensus rating of “Buy” and a consensus target price of $67.82.
Shares of Berry Global Group (BERY) traded down $0.11 during trading on Wednesday, reaching $60.24. The company had a trading volume of 555,896 shares, compared to its average volume of 1,016,641. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.10 and a current ratio of 1.77. The company has a market capitalization of $7,960.87, a price-to-earnings ratio of 19.67, a P/E/G ratio of 0.88 and a beta of 1.07. Berry Global Group has a 1 year low of $47.19 and a 1 year high of $61.36.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acrospire Investment Management LLC lifted its position in Berry Global Group by 315.6% in the second quarter. Acrospire Investment Management LLC now owns 2,107 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 1,600 shares during the period. Tocqueville Asset Management L.P. acquired a new stake in Berry Global Group in the second quarter worth approximately $228,000. Oakbrook Investments LLC acquired a new stake in Berry Global Group in the third quarter worth approximately $246,000. Metropolitan Life Insurance Co. NY lifted its position in Berry Global Group by 4.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 8,645 shares of the industrial products company’s stock worth $420,000 after purchasing an additional 344 shares during the period. Finally, Symphony Asset Management LLC lifted its position in Berry Global Group by 4.0% in the second quarter. Symphony Asset Management LLC now owns 7,671 shares of the industrial products company’s stock worth $438,000 after purchasing an additional 295 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.
In related news, CFO Mark W. Miles sold 10,000 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $58.54, for a total value of $585,400.00. Following the completion of the transaction, the chief financial officer now directly owns 52,916 shares of the company’s stock, valued at approximately $3,097,702.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Curt Begle sold 6,397 shares of the stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $60.04, for a total value of $384,075.88. Following the completion of the transaction, the president now directly owns 6,397 shares of the company’s stock, valued at $384,075.88. The disclosure for this sale can be found here. Insiders have sold 44,378 shares of company stock valued at $2,648,724 over the last ninety days. Corporate insiders own 3.11% of the company’s stock.
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Berry Global Group Company Profile
Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.
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