$1.97 Billion in Sales Expected for Berry Global Group Inc (BERY) This Quarter

Wall Street brokerages predict that Berry Global Group Inc (NYSE:BERY) will report sales of $1.97 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Berry Global Group’s earnings. The lowest sales estimate is $1.92 billion and the highest is $2.06 billion. Berry Global Group posted sales of $1.81 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 8.8%. The business is scheduled to issue its next earnings results on Wednesday, May 2nd.

On average, analysts expect that Berry Global Group will report full-year sales of $1.97 billion for the current year, with estimates ranging from $7.58 billion to $8.05 billion. For the next fiscal year, analysts expect that the business will post sales of $7.96 billion per share, with estimates ranging from $7.65 billion to $8.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Berry Global Group.

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

BERY has been the subject of several analyst reports. Zacks Investment Research raised Berry Global Group from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Monday, February 12th. Bank of America boosted their target price on Berry Global Group from $73.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Barclays reduced their target price on Berry Global Group from $71.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, February 12th. Finally, BMO Capital Markets raised Berry Global Group from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $68.00.

Shares of NYSE:BERY traded up $0.77 on Wednesday, hitting $54.81. 715,825 shares of the company’s stock were exchanged, compared to its average volume of 1,052,840. The stock has a market cap of $7,191.07, a P/E ratio of 16.81, a P/E/G ratio of 0.72 and a beta of 1.04. Berry Global Group has a 1-year low of $47.24 and a 1-year high of $61.71. The company has a debt-to-equity ratio of 4.69, a quick ratio of 0.96 and a current ratio of 1.72.

In related news, Director Paula A. Sneed acquired 1,000 shares of Berry Global Group stock in a transaction on Monday, March 5th. The stock was purchased at an average cost of $53.63 per share, with a total value of $53,630.00. Following the purchase, the director now directly owns 1,050 shares in the company, valued at $56,311.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue purchased a new stake in Berry Global Group during the 4th quarter valued at approximately $557,000. Gotham Asset Management LLC purchased a new position in shares of Berry Global Group during the 4th quarter worth approximately $5,078,000. Sterling Capital Management LLC raised its stake in shares of Berry Global Group by 123.7% during the 4th quarter. Sterling Capital Management LLC now owns 82,555 shares of the industrial products company’s stock worth $4,844,000 after buying an additional 45,654 shares in the last quarter. University of Notre Dame DU Lac raised its stake in shares of Berry Global Group by 49.5% during the 4th quarter. University of Notre Dame DU Lac now owns 122,097 shares of the industrial products company’s stock worth $7,163,000 after buying an additional 40,425 shares in the last quarter. Finally, Stanley Laman Group Ltd. raised its stake in shares of Berry Global Group by 3.2% during the 4th quarter. Stanley Laman Group Ltd. now owns 79,914 shares of the industrial products company’s stock worth $4,689,000 after buying an additional 2,479 shares in the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

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About Berry Global Group

Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.

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