Berry Global Group (NYSE:BERY) Issues Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Berry Global Group (NYSE:BERY) posted its earnings results on Thursday. The industrial products company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.16, Briefing.com reports. Berry Global Group had a return on equity of 29.77% and a net margin of 4.55%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The firm’s revenue was up 47.0% on a year-over-year basis.

Shares of BERY stock opened at $45.02 on Friday. The company has a quick ratio of 1.14, a current ratio of 0.28 and a debt-to-equity ratio of 3.52. The business has a 50-day moving average price of $40.78 and a two-hundred day moving average price of $45.05. Berry Global Group has a 12-month low of $36.98 and a 12-month high of $59.16. The firm has a market cap of $6.14 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 1.04 and a beta of 1.26.

Several brokerages have issued reports on BERY. Bank of America raised Berry Global Group from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Wednesday, September 25th. They noted that the move was a valuation call. Citigroup dropped their price target on Berry Global Group from $59.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Goldman Sachs Group reaffirmed a “buy” rating and set a $52.00 price target on shares of Berry Global Group in a research note on Thursday, August 22nd. TheStreet lowered Berry Global Group from a “b” rating to a “c+” rating in a research note on Tuesday, July 30th. Finally, ValuEngine raised Berry Global Group from a “sell” rating to a “hold” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $59.38.

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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