Equities research analysts forecast that Berry Global Group Inc (NYSE:BERY) will announce $2.01 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Berry Global Group’s earnings, with the lowest sales estimate coming in at $1.98 billion and the highest estimate coming in at $2.04 billion. Berry Global Group posted sales of $1.88 billion during the same quarter last year, which indicates a positive year over year growth rate of 6.9%. The firm is expected to issue its next earnings results before the market opens on Thursday, November 15th.
On average, analysts expect that Berry Global Group will report full year sales of $7.83 billion for the current fiscal year, with estimates ranging from $7.80 billion to $7.86 billion. For the next fiscal year, analysts forecast that the firm will post sales of $8.10 billion, with estimates ranging from $7.96 billion to $8.22 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Berry Global Group.
Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Friday, August 3rd. The industrial products company reported $0.96 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.09). The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Berry Global Group had a net margin of 6.15% and a return on equity of 35.88%. Berry Global Group’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share.
BERY has been the topic of several recent research reports. Zacks Investment Research raised shares of Berry Global Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. KeyCorp reaffirmed a “hold” rating on shares of Berry Global Group in a report on Friday, August 3rd. Cfra reaffirmed a “buy” rating and set a $57.00 price objective on shares of Berry Global Group in a report on Thursday, September 6th. Finally, ValuEngine raised shares of Berry Global Group from a “strong sell” rating to a “sell” rating in a report on Thursday, September 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. Berry Global Group has a consensus rating of “Buy” and a consensus price target of $65.75.
Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC bought a new stake in shares of Berry Global Group during the second quarter valued at about $105,000. First Hawaiian Bank bought a new stake in shares of Berry Global Group during the third quarter valued at about $129,000. Nisa Investment Advisors LLC bought a new stake in shares of Berry Global Group during the third quarter valued at about $145,000. Atria Investments LLC bought a new stake in shares of Berry Global Group during the second quarter valued at about $212,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Berry Global Group during the second quarter valued at about $243,000. Hedge funds and other institutional investors own 93.90% of the company’s stock.
NYSE BERY opened at $42.74 on Friday. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 0.56 and a beta of 1.12. Berry Global Group has a 52 week low of $42.38 and a 52 week high of $61.71. The company has a current ratio of 2.01, a quick ratio of 1.19 and a debt-to-equity ratio of 4.41.
About Berry Global Group
Berry Global Group, Inc manufactures and distributes engineered materials, nonwoven specialty materials, and consumer packaging products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. It offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, vinyl-coated and carton sealing, electrical, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.
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