Berry Global Group (BERY) Scheduled to Post Earnings on Thursday

Berry Global Group (NYSE:BERY) will issue its quarterly earnings data before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of $1.92 per share for the quarter. Berry Global Group has set its FY24 guidance at $7.35-7.85 EPS and its FY 2024 guidance at 7.350-7.850 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.07). Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the business earned $1.30 earnings per share. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, analysts expect Berry Global Group to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Berry Global Group Price Performance

Shares of NYSE:BERY opened at $60.13 on Tuesday. The company has a market cap of $6.97 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 0.80 and a beta of 1.24. Berry Global Group has a twelve month low of $53.92 and a twelve month high of $69.93. The company’s 50 day moving average is $58.61 and its 200 day moving average is $61.51. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62.

Wall Street Analyst Weigh In

BERY has been the topic of several recent research reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $65.00 price target (down from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. TheStreet downgraded Berry Global Group from a “b-” rating to a “c+” rating in a report on Monday, February 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $62.00 price objective (down previously from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. Wolfe Research assumed coverage on Berry Global Group in a report on Friday, March 1st. They issued a “peer perform” rating for the company. Finally, Barclays dropped their price objective on Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $72.00.

Insider Activity

In other news, Director Peter T. Thomas bought 2,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of $56.00 per share, for a total transaction of $112,000.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $112,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Peter T. Thomas purchased 2,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was acquired at an average cost of $56.00 per share, for a total transaction of $112,000.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at $112,000. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jonathan F. Foster purchased 1,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $58.49 per share, for a total transaction of $58,490.00. Following the completion of the purchase, the director now directly owns 5,728 shares of the company’s stock, valued at $335,030.72. The disclosure for this purchase can be found here. Company insiders own 4.00% of the company’s stock.

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.