Berry Global Group, Inc. (NYSE:BERY) to Issue Quarterly Dividend of $0.31

Berry Global Group, Inc. (NYSE:BERY) declared a quarterly dividend on Wednesday, January 29th, RTT News reports. Investors of record on Monday, March 3rd will be given a dividend of 0.31 per share by the industrial products company on Monday, March 17th. This represents a $1.24 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Monday, March 3rd.

Berry Global Group has a payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Berry Global Group to earn $6.73 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 18.4%.

Berry Global Group Stock Performance

NYSE:BERY opened at $72.15 on Friday. Berry Global Group has a 12-month low of $55.24 and a 12-month high of $73.31. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The firm has a market capitalization of $8.35 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The firm has a 50-day moving average price of $68.24 and a 200 day moving average price of $68.04.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business posted $1.22 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Research analysts anticipate that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. UBS Group raised their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. StockNews.com assumed coverage on shares of Berry Global Group in a report on Saturday. They set a “buy” rating for the company. Citigroup reaffirmed a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a report on Monday, November 25th. Finally, Royal Bank of Canada raised their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Berry Global Group has an average rating of “Hold” and an average target price of $74.56.

About Berry Global Group

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.