Jefferies Financial Group Weighs in on Berry Global Group Inc’s Q1 2020 Earnings (NYSE:BERY)

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Berry Global Group Inc (NYSE:BERY) – Equities research analysts at Jefferies Financial Group decreased their Q1 2020 earnings estimates for Berry Global Group in a research report issued on Wednesday, November 27th. Jefferies Financial Group analyst D. Rizzo now anticipates that the industrial products company will post earnings of $0.65 per share for the quarter, down from their prior forecast of $0.74. Jefferies Financial Group also issued estimates for Berry Global Group’s Q2 2020 earnings at $0.99 EPS and Q4 2020 earnings at $1.15 EPS.

BERY has been the topic of several other research reports. ValuEngine raised shares of Berry Global Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Bank of America raised shares of Berry Global Group from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Wednesday, September 25th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Berry Global Group from a “sell” rating to a “hold” rating and set a $38.00 price target on the stock in a research report on Wednesday, November 27th. Goldman Sachs Group reaffirmed a “buy” rating and set a $52.00 price target on shares of Berry Global Group in a research report on Thursday, August 22nd. Finally, Morgan Stanley reaffirmed a “hold” rating and set a $51.00 price target (up previously from $49.00) on shares of Berry Global Group in a research report on Monday, November 25th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $55.88.

Shares of BERY stock opened at $46.67 on Monday. The company has a debt-to-equity ratio of 6.96, a quick ratio of 1.19 and a current ratio of 1.84. Berry Global Group has a one year low of $36.98 and a one year high of $59.16. The company’s 50-day simple moving average is $42.36 and its 200-day simple moving average is $44.79. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.99 and a beta of 1.27.

Berry Global Group (NYSE:BERY) last announced its earnings results on Thursday, November 21st. The industrial products company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.16. Berry Global Group had a return on equity of 29.77% and a net margin of 4.55%. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm earned $0.90 earnings per share. The company’s revenue was up 47.0% on a year-over-year basis.

Several hedge funds have recently modified their holdings of the company. Heritage Wealth Advisors bought a new position in Berry Global Group in the second quarter worth about $47,000. Usca Ria LLC bought a new position in Berry Global Group in the third quarter worth about $51,000. FTB Advisors Inc. lifted its holdings in Berry Global Group by 55.9% in the third quarter. FTB Advisors Inc. now owns 1,386 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 497 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Berry Global Group by 10.9% in the second quarter. Captrust Financial Advisors now owns 3,667 shares of the industrial products company’s stock worth $193,000 after acquiring an additional 359 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in Berry Global Group in the third quarter worth about $211,000. 95.78% of the stock is currently owned by institutional investors and hedge funds.

About Berry Global Group

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 and Estimates for Berry Global Group (NYSE:BERY)

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