Wall Street brokerages predict that Berry Global Group Inc (NYSE:BERY) will post $0.90 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Berry Global Group’s earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $0.94. Berry Global Group reported earnings of $0.79 per share in the same quarter last year, which would indicate a positive year over year growth rate of 13.9%. The company is expected to announce its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Berry Global Group will report full year earnings of $3.79 per share for the current financial year, with EPS estimates ranging from $3.75 to $3.86. For the next year, analysts expect that the company will report earnings of $4.11 per share, with EPS estimates ranging from $3.99 to $4.25. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Berry Global Group.
Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. Berry Global Group had a return on equity of 47.10% and a net margin of 6.13%. The company had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis.
Several equities analysts have recently issued reports on BERY shares. BidaskClub cut Berry Global Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Deutsche Bank lifted their price target on Berry Global Group from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, November 17th. Robert W. Baird lifted their price target on Berry Global Group from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, November 17th. Royal Bank of Canada lifted their price target on Berry Global Group from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, November 20th. Finally, BMO Capital Markets lifted their price target on Berry Global Group from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Monday, November 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $68.00.
Shares of Berry Global Group (BERY) traded up $0.17 during mid-day trading on Tuesday, hitting $54.80. The stock had a trading volume of 208,473 shares, compared to its average volume of 1,177,799. Berry Global Group has a one year low of $47.19 and a one year high of $61.71. The firm has a market cap of $7,170.00, a PE ratio of 18.53, a PEG ratio of 0.73 and a beta of 0.99. The company has a current ratio of 1.72, a quick ratio of 0.96 and a debt-to-equity ratio of 4.69.
In other news, CFO Mark W. Miles sold 10,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $58.54, for a total transaction of $585,400.00. Following the completion of the sale, the chief financial officer now directly owns 52,916 shares of the company’s stock, valued at approximately $3,097,702.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BERY. Luminus Management LLC boosted its stake in shares of Berry Global Group by 54.9% during the 4th quarter. Luminus Management LLC now owns 3,815,703 shares of the industrial products company’s stock worth $223,867,000 after acquiring an additional 1,352,044 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Berry Global Group by 74.8% during the 4th quarter. Millennium Management LLC now owns 1,639,148 shares of the industrial products company’s stock worth $96,169,000 after acquiring an additional 701,620 shares in the last quarter. Atlantic Trust Group LLC boosted its stake in shares of Berry Global Group by 184.5% during the 3rd quarter. Atlantic Trust Group LLC now owns 861,120 shares of the industrial products company’s stock worth $48,784,000 after acquiring an additional 558,411 shares in the last quarter. Renaissance Group LLC bought a new stake in shares of Berry Global Group during the 4th quarter worth $27,153,000. Finally, Two Sigma Investments LP boosted its stake in shares of Berry Global Group by 113.6% during the 4th quarter. Two Sigma Investments LP now owns 632,471 shares of the industrial products company’s stock worth $37,107,000 after acquiring an additional 336,409 shares in the last quarter. 93.43% of the stock is owned by institutional investors and hedge funds.
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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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