Berry Global Group, Inc. (NYSE:BERY) Expected to Post Earnings of $1.78 Per Share

Brokerages expect Berry Global Group, Inc. (NYSE:BERY – Get Rating) to report $1.78 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Berry Global Group’s earnings, with the highest EPS estimate coming in at $1.83 and the lowest estimate coming in at $1.76. Berry Global Group reported earnings of $1.59 per share during the same quarter last year, which indicates a positive year over year growth rate of 11.9%. The business is scheduled to report its next quarterly earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Berry Global Group will report full-year earnings of $7.22 per share for the current fiscal year, with EPS estimates ranging from $7.10 to $7.40. For the next fiscal year, analysts forecast that the business will report earnings of $7.93 per share, with EPS estimates ranging from $7.37 to $8.75. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Berry Global Group.

Berry Global Group (NYSE:BERY – Get Rating) last released its quarterly earnings results on Thursday, February 3rd. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.13). The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.43 billion. Berry Global Group had a net margin of 5.07% and a return on equity of 28.70%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 EPS.

Several research firms have recently commented on BERY. Deutsche Bank Aktiengesellschaft cut their price objective on Berry Global Group from $78.00 to $71.00 and set a “buy” rating for the company in a report on Monday, April 18th. Morgan Stanley increased their price target on shares of Berry Global Group from $71.00 to $79.00 and gave the company an “equal weight” rating in a research note on Thursday, January 20th. Zacks Investment Research cut shares of Berry Global Group from a “buy” rating to a “hold” rating and set a $71.00 target price on the stock. in a report on Tuesday, February 1st. Credit Suisse Group assumed coverage on shares of Berry Global Group in a research note on Friday, January 28th. They issued a “hold” rating and a $78.00 target price for the company. Finally, Wells Fargo & Company dropped their price objective on Berry Global Group from $82.00 to $79.00 and set an “overweight” rating on the stock in a research note on Thursday, April 7th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Berry Global Group presently has an average rating of “Buy” and a consensus price target of $79.27.

Shares of NYSE BERY traded up $0.69 during midday trading on Wednesday, reaching $58.42. The company’s stock had a trading volume of 1,744 shares, compared to its average volume of 663,927. The company has a current ratio of 1.76, a quick ratio of 0.99 and a debt-to-equity ratio of 2.86. Berry Global Group has a fifty-two week low of $52.54 and a fifty-two week high of $74.73. The stock has a 50 day simple moving average of $57.92 and a 200-day simple moving average of $64.60. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 0.78 and a beta of 1.26.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Berry Global Group by 689.4% during the fourth quarter. JPMorgan Chase & Co. now owns 3,051,892 shares of the industrial products company’s stock valued at $225,168,000 after purchasing an additional 2,665,299 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Berry Global Group during the 4th quarter worth $124,059,000. Norges Bank bought a new stake in shares of Berry Global Group during the 4th quarter worth $115,332,000. Alliancebernstein L.P. boosted its stake in Berry Global Group by 436.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,614,028 shares of the industrial products company’s stock valued at $119,083,000 after buying an additional 1,313,231 shares in the last quarter. Finally, Monarch Alternative Capital LP grew its position in Berry Global Group by 92.5% in the third quarter. Monarch Alternative Capital LP now owns 1,251,000 shares of the industrial products company’s stock valued at $76,161,000 after acquiring an additional 601,000 shares during the last quarter. Institutional investors own 95.74% of the company’s stock.

About Berry Global Group (Get Rating)

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.

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