Equities analysts expect Berry Global Group Inc (NYSE:BERY) to announce $2.07 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Berry Global Group’s earnings. The lowest sales estimate is $2.04 billion and the highest is $2.08 billion. Berry Global Group reported sales of $1.97 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 5.1%. The firm is scheduled to announce its next quarterly earnings report on Thursday, May 2nd.
According to Zacks, analysts expect that Berry Global Group will report full year sales of $8.27 billion for the current fiscal year, with estimates ranging from $8.20 billion to $8.38 billion. For the next year, analysts forecast that the company will report sales of $8.38 billion, with estimates ranging from $8.20 billion to $8.46 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Berry Global Group.
Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Friday, February 1st. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. Berry Global Group had a return on equity of 33.85% and a net margin of 5.22%. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the firm posted $0.67 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis.
A number of research analysts recently commented on the company. Zacks Investment Research cut Berry Global Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. Citigroup raised their price target on Berry Global Group from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 16th. TheStreet cut Berry Global Group from a “b” rating to a “c+” rating in a research report on Monday, October 29th. ValuEngine upgraded Berry Global Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. Finally, Morgan Stanley assumed coverage on Berry Global Group in a research report on Wednesday, January 16th. They issued an “equal weight” rating and a $53.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Berry Global Group currently has an average rating of “Buy” and a consensus price target of $61.75.
Shares of BERY traded up $0.46 during midday trading on Friday, reaching $52.40. 1,011,886 shares of the stock were exchanged, compared to its average volume of 1,443,724. Berry Global Group has a twelve month low of $40.50 and a twelve month high of $57.00. The company has a debt-to-equity ratio of 3.92, a quick ratio of 1.06 and a current ratio of 1.87. The company has a market capitalization of $6.77 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.34 and a beta of 1.03.
In other Berry Global Group news, EVP Jason K. Greene sold 10,000 shares of Berry Global Group stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $50.05, for a total value of $500,500.00. Following the transaction, the executive vice president now owns 750 shares in the company, valued at $37,537.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Highland Capital Management LLC acquired a new position in shares of Berry Global Group in the fourth quarter worth approximately $1,381,000. Atwood & Palmer Inc. lifted its stake in shares of Berry Global Group by 2.2% in the third quarter. Atwood & Palmer Inc. now owns 158,375 shares of the industrial products company’s stock worth $7,664,000 after acquiring an additional 3,425 shares during the period. Three Peaks Capital Management LLC acquired a new position in shares of Berry Global Group in the fourth quarter worth approximately $2,264,000. Gluskin Sheff & Assoc Inc. lifted its stake in shares of Berry Global Group by 184.0% in the third quarter. Gluskin Sheff & Assoc Inc. now owns 267,419 shares of the industrial products company’s stock worth $12,940,000 after acquiring an additional 173,248 shares during the period. Finally, Canyon Capital Advisors LLC lifted its stake in shares of Berry Global Group by 9.6% in the third quarter. Canyon Capital Advisors LLC now owns 8,670,022 shares of the industrial products company’s stock worth $419,542,000 after acquiring an additional 759,742 shares during the period. Institutional investors own 94.89% of the company’s stock.
Berry Global Group Company Profile
Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment 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, flashing and seaming tapes, 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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