Berry Global Group (NYSE:BERY) Updates FY 2022 Earnings Guidance

Berry Global Group (NYSE:BERYGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $7.20-$7.70 for the period, compared to the consensus EPS estimate of $7.23. The company issued revenue guidance of -.

A number of research analysts have recently weighed in on the company. Zacks Investment Research cut Berry Global Group from a buy rating to a hold rating and set a $71.00 price objective on the stock. in a research report on Tuesday, February 1st. Citigroup lowered their price objective on Berry Global Group from $90.00 to $87.00 in a research report on Friday, April 8th. Morgan Stanley lifted their price objective on Berry Global Group from $71.00 to $79.00 and gave the company an equal weight rating in a research report on Thursday, January 20th. Truist Financial lowered their price objective on Berry Global Group from $88.00 to $77.00 in a research report on Friday, May 6th. Finally, Credit Suisse Group initiated coverage on Berry Global Group in a research note on Friday, January 28th. They set a hold rating and a $78.00 target price on the stock. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Buy and an average target price of $77.18.

NYSE:BERY traded down $0.44 during trading hours on Monday, reaching $53.40. The stock had a trading volume of 11,138 shares, compared to its average volume of 972,785. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.99 and a current ratio of 1.76. Berry Global Group has a 52 week low of $51.40 and a 52 week high of $74.73. The company has a 50 day moving average price of $57.47 and a two-hundred day moving average price of $64.00. The stock has a market capitalization of $7.23 billion, a PE ratio of 9.95, a PEG ratio of 0.74 and a beta of 1.26.

Berry Global Group (NYSE:BERYGet Rating) last released its quarterly earnings data on Thursday, May 5th. The industrial products company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. Berry Global Group had a return on equity of 29.03% and a net margin of 5.09%. The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the company posted $1.59 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. Equities research analysts predict that Berry Global Group will post 7.27 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. bought a new stake in Berry Global Group in the 1st quarter worth approximately $38,000. Neo Ivy Capital Management purchased a new position in shares of Berry Global Group in the 4th quarter worth approximately $71,000. MetLife Investment Management LLC purchased a new position in shares of Berry Global Group in the 1st quarter worth approximately $156,000. Metropolitan Life Insurance Co NY purchased a new position in shares of Berry Global Group in the 4th quarter worth approximately $199,000. Finally, Camden Capital LLC purchased a new position in shares of Berry Global Group in the 4th quarter worth approximately $203,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Berry Global Group (NYSE:BERY)

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