Berry Global Group (NYSE:BERY) Issues Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Berry Global Group (NYSE:BERY) posted its earnings results on Tuesday. The industrial products company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.10), Briefing.com reports. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Berry Global Group had a return on equity of 32.42% and a net margin of 5.03%. Berry Global Group’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS.

NYSE BERY traded down $8.25 on Tuesday, reaching $46.94. The stock had a trading volume of 8,507,603 shares, compared to its average volume of 1,527,669. The company has a debt-to-equity ratio of 3.72, a quick ratio of 1.19 and a current ratio of 2.01. Berry Global Group has a 12-month low of $40.50 and a 12-month high of $59.16. The company’s 50-day moving average is $52.47. The firm has a market capitalization of $7.17 billion, a PE ratio of 13.93, a P/E/G ratio of 1.53 and a beta of 1.20.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mark Sheptoff Financial Planning LLC lifted its stake in Berry Global Group by 66.7% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 500 shares of the industrial products company’s stock valued at $27,000 after buying an additional 200 shares during the last quarter. First Interstate Bank lifted its stake in Berry Global Group by 29.6% in the first quarter. First Interstate Bank now owns 1,509 shares of the industrial products company’s stock valued at $81,000 after buying an additional 345 shares during the last quarter. Ingalls & Snyder LLC lifted its stake in Berry Global Group by 3.4% in the second quarter. Ingalls & Snyder LLC now owns 13,845 shares of the industrial products company’s stock valued at $728,000 after buying an additional 450 shares during the last quarter. SG Americas Securities LLC lifted its stake in Berry Global Group by 21.6% in the first quarter. SG Americas Securities LLC now owns 2,774 shares of the industrial products company’s stock valued at $149,000 after buying an additional 492 shares during the last quarter. Finally, Virginia Retirement Systems ET AL lifted its stake in Berry Global Group by 2.1% in the second quarter. Virginia Retirement Systems ET AL now owns 24,100 shares of the industrial products company’s stock valued at $1,267,000 after buying an additional 500 shares during the last quarter. Institutional investors own 95.35% of the company’s stock.

BERY has been the subject of several recent analyst reports. Bank of America set a $80.00 target price on Colgate-Palmolive and gave the stock a “buy” rating in a research note on Friday, July 12th. Zacks Investment Research upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Monday, July 8th. Morgan Stanley set a $60.00 target price on Berry Global Group and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Wells Fargo & Co boosted their target price on CoStar Group from $550.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. set a €50.00 ($58.14) target price on Brenntag and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $61.57.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment 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, flashing and seaming tapes, 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 for Berry Global Group (NYSE:BERY)

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