Analysts Expect Berry Global Group, Inc. (NYSE:BERY) Will Announce Quarterly Sales of $3.17 Billion


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Wall Street analysts forecast that Berry Global Group, Inc. (NYSE:BERY) will report $3.17 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Berry Global Group’s earnings. The highest sales estimate is $3.24 billion and the lowest is $3.08 billion. Berry Global Group posted sales of $2.98 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.4%. The firm is expected to issue its next earnings results on Friday, May 7th.

According to Zacks, analysts expect that Berry Global Group will report full year sales of $12.66 billion for the current year, with estimates ranging from $12.16 billion to $13.07 billion. For the next financial year, analysts forecast that the business will report sales of $12.74 billion, with estimates ranging from $12.16 billion to $13.15 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Berry Global Group.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Thursday, February 4th. The industrial products company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.18. Berry Global Group had a net margin of 4.77% and a return on equity of 35.39%. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same period last year, the firm earned $0.56 earnings per share. Berry Global Group’s revenue for the quarter was up 11.4% compared to the same quarter last year.

A number of brokerages have issued reports on BERY. Morgan Stanley increased their price objective on shares of Berry Global Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, February 8th. BMO Capital Markets increased their price objective on shares of Berry Global Group from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, February 8th. Citigroup raised their price target on shares of Berry Global Group from $67.00 to $70.00 in a research note on Tuesday, February 9th. Robert W. Baird raised their price target on shares of Berry Global Group from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, November 20th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Berry Global Group from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, November 20th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $63.80.

NYSE:BERY traded up $0.27 during mid-day trading on Tuesday, reaching $56.64. 488,381 shares of the company’s stock were exchanged, compared to its average volume of 1,042,839. Berry Global Group has a one year low of $25.00 and a one year high of $61.00. The firm has a market capitalization of $7.58 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.00 and a beta of 1.37. The business’s fifty day simple moving average is $54.48 and its two-hundred day simple moving average is $52.63. The company has a debt-to-equity ratio of 4.86, a quick ratio of 1.17 and a current ratio of 1.75.

In other news, President Curt Begle sold 18,000 shares of Berry Global Group stock in a transaction on Monday, February 8th. The shares were sold at an average price of $59.00, for a total value of $1,062,000.00. Following the completion of the sale, the president now owns 18,000 shares in the company, valued at approximately $1,062,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jason K. Greene sold 15,000 shares of Berry Global Group stock in a transaction on Tuesday, February 9th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the completion of the sale, the executive vice president now owns 15,250 shares of the company’s stock, valued at approximately $915,000. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Berry Global Group by 2.4% in the 4th quarter. BlackRock Inc. now owns 5,657,398 shares of the industrial products company’s stock valued at $317,889,000 after acquiring an additional 132,652 shares in the last quarter. LSV Asset Management increased its stake in Berry Global Group by 222.1% during the 3rd quarter. LSV Asset Management now owns 4,029,906 shares of the industrial products company’s stock valued at $194,725,000 after purchasing an additional 2,778,870 shares in the last quarter. Ontario Teachers Pension Plan Board increased its stake in Berry Global Group by 47.4% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 3,205,990 shares of the industrial products company’s stock valued at $180,145,000 after purchasing an additional 1,030,990 shares in the last quarter. Lyrical Asset Management LP increased its stake in Berry Global Group by 1.1% during the 4th quarter. Lyrical Asset Management LP now owns 2,825,140 shares of the industrial products company’s stock valued at $158,745,000 after purchasing an additional 31,992 shares in the last quarter. Finally, TPG Group Holdings SBS Advisors Inc. increased its stake in Berry Global Group by 4.2% during the 4th quarter. TPG Group Holdings SBS Advisors Inc. now owns 2,395,435 shares of the industrial products company’s stock valued at $134,599,000 after purchasing an additional 96,135 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. Its Consumer Packaging International segment offers closures, dispensing systems, and applicators; inhalers and dose counters; polythene films; packaging solutions for consumer and industrial applications in personal care, beverage, and food markets; injection molded and thermoformed containers, and lids; and molds and molded components, as well as recycles rigid and flexible end of life materials from industrial and consumer sources.

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