Brokerages expect Berry Global Group, Inc. (NYSE:BERY) to report $2.91 billion in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Berry Global Group’s earnings. The highest sales estimate is $3.04 billion and the lowest is $2.82 billion. Berry Global Group posted sales of $2.82 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.2%. The firm is expected to announce its next earnings results on Friday, January 29th.
According to Zacks, analysts expect that Berry Global Group will report full year sales of $12.04 billion for the current year, with estimates ranging from $11.74 billion to $12.25 billion. For the next financial year, analysts anticipate that the firm will report sales of $12.26 billion, with estimates ranging from $11.74 billion to $12.57 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Berry Global Group.
Berry Global Group (NYSE:BERY) last announced its earnings results on Wednesday, November 18th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.37. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Berry Global Group had a net margin of 4.77% and a return on equity of 35.39%.
A number of equities analysts have recently commented on the stock. BidaskClub lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Thursday, December 10th. Seaport Global Securities began coverage on Berry Global Group in a research report on Wednesday, October 14th. They issued a “buy” rating and a $71.00 price target for the company. Robert W. Baird upped their price objective on Berry Global Group from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, November 20th. They noted that the move was a valuation call. Morgan Stanley increased their price target on Berry Global Group from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, November 23rd. Finally, UBS Group began coverage on Berry Global Group in a research note on Thursday, September 17th. They issued a “buy” rating and a $70.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $61.63.
Berry Global Group stock opened at $56.19 on Friday. The company has a debt-to-equity ratio of 4.86, a current ratio of 1.75 and a quick ratio of 1.17. Berry Global Group has a 1-year low of $25.00 and a 1-year high of $57.94. The firm has a market capitalization of $7.50 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 1.04 and a beta of 1.36. The company’s 50-day moving average is $54.16 and its 200 day moving average is $50.21.
In other Berry Global Group news, EVP Jason K. Greene sold 20,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 19th. The shares were sold at an average price of $57.17, for a total transaction of $1,171,985.00. Following the sale, the executive vice president now owns 20,750 shares of the company’s stock, valued at $1,186,277.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Curt Begle sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 19th. The stock was sold at an average price of $57.17, for a total transaction of $1,029,060.00. Following the sale, the president now directly owns 18,000 shares in the company, valued at approximately $1,029,060. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. NEXT Financial Group Inc purchased a new position in shares of Berry Global Group during the third quarter worth approximately $51,000. Riverpark Capital Management LLC raised its holdings in Berry Global Group by 74.2% during the second quarter. Riverpark Capital Management LLC now owns 4,072 shares of the industrial products company’s stock worth $180,000 after purchasing an additional 1,734 shares in the last quarter. Captrust Financial Advisors raised its holdings in Berry Global Group by 10.5% during the second quarter. Captrust Financial Advisors now owns 4,088 shares of the industrial products company’s stock worth $181,000 after purchasing an additional 387 shares in the last quarter. CENTRAL TRUST Co purchased a new position in Berry Global Group during the third quarter worth about $201,000. Finally, MANA Advisors LLC purchased a new position in Berry Global Group during the third quarter worth about $203,000. Institutional investors and hedge funds own 96.35% of the company’s stock.
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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