Zacks: Analysts Anticipate Berry Global Group, Inc. (NYSE:BERY) Will Announce Earnings of $1.97 Per Share

Analysts expect Berry Global Group, Inc. (NYSE:BERY – Get Rating) to report earnings of $1.97 per share for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Berry Global Group’s earnings, with the highest EPS estimate coming in at $2.07 and the lowest estimate coming in at $1.93. Berry Global Group posted earnings per share of $1.53 in the same quarter last year, which indicates a positive year over year growth rate of 28.8%. The company is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Berry Global Group will report full-year earnings of $7.27 per share for the current fiscal year, with EPS estimates ranging from $7.20 to $7.34. For the next fiscal year, analysts anticipate that the business will report earnings of $8.03 per share, with EPS estimates ranging from $7.57 to $8.55. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Berry Global Group.

Berry Global Group (NYSE:BERY – Get Rating) last posted its earnings results on Thursday, May 5th. The industrial products company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. Berry Global Group had a net margin of 5.09% and a return on equity of 28.63%. The firm had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the firm posted $1.59 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis.

Several equities research analysts recently issued reports on the company. Credit Suisse Group started coverage on Berry Global Group in a report on Friday, January 28th. They set a “hold” rating and a $78.00 price target for the company. Citigroup reduced their price target on shares of Berry Global Group from $90.00 to $87.00 in a research report on Friday, April 8th. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 17th. Wells Fargo & Company lowered their target price on shares of 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. Finally, Zacks Investment Research downgraded 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 research note on Tuesday, February 1st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $76.70.

Berry Global Group stock opened at $56.56 on Wednesday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.99 and a current ratio of 1.82. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 0.75 and a beta of 1.26. The stock’s 50 day moving average price is $57.19 and its two-hundred day moving average price is $63.43. Berry Global Group has a 52-week low of $51.40 and a 52-week high of $74.73.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp purchased a new position in shares of Berry Global Group in the fourth quarter worth $26,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Berry Global Group in the fourth quarter worth $27,000. Ellevest Inc. purchased a new position in shares of Berry Global Group in the first quarter worth $25,000. Vectors Research Management LLC purchased a new position in shares of Berry Global Group in the fourth quarter worth $34,000. Finally, Dark Forest Capital Management LP bought a new stake in Berry Global Group in the third quarter valued at $29,000. 95.74% of the stock is currently owned by institutional investors.

Berry Global Group Company Profile (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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