Analysts Expect Berry Global Group (BERY) to Announce $0.89 EPS

Analysts forecast that Berry Global Group (NYSE:BERY) will report earnings of $0.89 per share for the current quarter, Zacks reports. Five analysts have made estimates for Berry Global Group’s earnings. The lowest EPS estimate is $0.85 and the highest is $0.94. Berry Global Group reported earnings per share of $0.79 in the same quarter last year, which indicates a positive year-over-year growth rate of 12.7%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, May 3rd.

On average, analysts expect that Berry Global Group will report full-year earnings of $3.78 per share for the current fiscal year, with EPS estimates ranging from $3.75 to $3.86. For the next financial year, analysts forecast that the firm will post earnings of $4.11 per share, with EPS estimates ranging from $3.99 to $4.25. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Berry Global Group.

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Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.02. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Berry Global Group had a net margin of 6.13% and a return on equity of 47.10%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share.

A number of equities analysts have weighed in on BERY shares. Zacks Investment Research cut shares of Berry Global Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. BMO Capital Markets upgraded shares of Berry Global Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Vertical Research started coverage on shares of Berry Global Group in a research report on Thursday, April 12th. They issued a “buy” rating for the company. Citigroup reduced their target price on shares of Berry Global Group from $71.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, April 5th. Finally, Bank of America increased their target price on shares of Berry Global Group from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $67.58.

NYSE:BERY traded up $0.41 during trading hours on Thursday, reaching $56.45. 456,263 shares of the company were exchanged, compared to its average volume of 1,101,317. The company has a debt-to-equity ratio of 4.69, a quick ratio of 0.96 and a current ratio of 1.72. The stock has a market capitalization of $7,280.29, a PE ratio of 18.36, a P/E/G ratio of 0.73 and a beta of 1.05. Berry Global Group has a twelve month low of $48.50 and a twelve month high of $61.71.

In related news, Director Paula A. Sneed bought 1,000 shares of the stock in a transaction on Monday, March 5th. The stock was bought at an average price of $53.63 per share, with a total value of $53,630.00. Following the completion of the purchase, the director now directly owns 1,050 shares in the company, valued at approximately $56,311.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC boosted its stake in shares of Berry Global Group by 3.7% in the fourth quarter. TIAA CREF Investment Management LLC now owns 5,857,695 shares of the industrial products company’s stock valued at $343,671,000 after purchasing an additional 210,107 shares during the period. BlackRock Inc. raised its holdings in Berry Global Group by 2.6% in the fourth quarter. BlackRock Inc. now owns 5,386,897 shares of the industrial products company’s stock valued at $316,046,000 after acquiring an additional 136,987 shares in the last quarter. Boston Partners raised its holdings in Berry Global Group by 4.1% in the fourth quarter. Boston Partners now owns 4,089,152 shares of the industrial products company’s stock valued at $239,911,000 after acquiring an additional 160,491 shares in the last quarter. Luminus Management LLC raised its holdings in Berry Global Group by 54.9% in the fourth quarter. Luminus Management LLC now owns 3,815,703 shares of the industrial products company’s stock valued at $223,867,000 after acquiring an additional 1,352,044 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Berry Global Group by 2.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,827,715 shares of the industrial products company’s stock valued at $165,902,000 after acquiring an additional 55,228 shares in the last quarter. 94.81% of the stock is owned by institutional investors and hedge funds.

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Berry Global Group Company Profile

Berry Global Group, Inc manufactures and distributes engineered materials, nonwoven specialty materials, and consumer packaging products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. It offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, vinyl-coated and carton sealing, electrical, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.

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

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