Brokerages expect Berry Global Group Inc (NYSE:BERY) to report $1.97 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Berry Global Group’s earnings, with estimates ranging from $1.92 billion to $2.06 billion. Berry Global Group posted sales of $1.81 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8.8%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Berry Global Group will report full year sales of $1.97 billion for the current year, with estimates ranging from $7.58 billion to $8.05 billion. For the next fiscal year, analysts forecast that the business will report sales of $7.96 billion per share, with estimates ranging from $7.65 billion to $8.30 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Berry Global Group.
Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the business earned $0.50 earnings per share. The business’s revenue was up 18.2% on a year-over-year basis.
BERY has been the topic of several recent research reports. Zacks Investment Research downgraded Berry Global Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. BidaskClub downgraded Berry Global Group from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Bank of America upped their price objective on Berry Global Group from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Deutsche Bank upped their price objective 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. Finally, BMO Capital Markets upped their price objective 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. Berry Global Group currently has an average rating of “Buy” and an average price target of $68.00.
Shares of Berry Global Group (BERY) opened at $55.71 on Friday. The company has a debt-to-equity ratio of 4.69, a current ratio of 1.72 and a quick ratio of 0.96. Berry Global Group has a 12-month low of $47.19 and a 12-month high of $61.71. The stock has a market capitalization of $7,309.15, a price-to-earnings ratio of 16.68, a PEG ratio of 0.73 and a beta of 1.04.
In other Berry Global Group news, Director Paula A. Sneed bought 1,000 shares of Berry Global Group stock in a transaction that occurred on Monday, March 5th. The shares were purchased at an average cost of $53.63 per share, for a total transaction of $53,630.00. Following the completion of the transaction, the director now owns 1,050 shares of the company’s stock, valued at approximately $56,311.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BERY. Victory Capital Management Inc. lifted its position in Berry Global Group by 119.5% during the third quarter. Victory Capital Management Inc. now owns 322,350 shares of the industrial products company’s stock worth $18,261,000 after buying an additional 175,522 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in Berry Global Group by 56.0% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 49,275 shares of the industrial products company’s stock worth $2,791,000 after acquiring an additional 17,680 shares during the last quarter. Signature Estate & Investment Advisors LLC increased its stake in Berry Global Group by 17.7% during the third quarter. Signature Estate & Investment Advisors LLC now owns 11,000 shares of the industrial products company’s stock worth $623,000 after acquiring an additional 1,654 shares during the last quarter. 361 Capital LLC acquired a new stake in Berry Global Group during the third quarter worth about $857,000. Finally, California Public Employees Retirement System increased its stake in Berry Global Group by 4.8% during the third quarter. California Public Employees Retirement System now owns 296,410 shares of the industrial products company’s stock worth $16,792,000 after acquiring an additional 13,520 shares during the last quarter. Hedge funds and other institutional investors own 93.87% of the company’s stock.
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About Berry Global Group
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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