Berry Global Group Inc (NYSE:BERY) Expected to Post Quarterly Sales of $2.01 Billion

Analysts expect that Berry Global Group Inc (NYSE:BERY) will report $2.01 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Berry Global Group’s earnings. The lowest sales estimate is $1.97 billion and the highest is $2.04 billion. Berry Global Group reported sales of $2.05 billion during the same quarter last year, which indicates a negative year over year growth rate of 2%. The company is expected to issue its next quarterly earnings report on Thursday, November 21st.

On average, analysts expect that Berry Global Group will report full-year sales of $8.03 billion for the current fiscal year, with estimates ranging from $7.89 billion to $8.21 billion. For the next year, analysts anticipate that the company will report sales of $8.14 billion, with estimates ranging from $7.89 billion to $8.46 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Berry Global Group.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.10). Berry Global Group had a net margin of 5.03% and a return on equity of 32.42%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company earned $0.96 earnings per share. The company’s quarterly revenue was down 6.5% compared to the same quarter last year.

A number of equities research analysts recently commented on BERY shares. ValuEngine lowered shares of Berry Global Group from a “hold” rating to a “sell” rating in a report on Wednesday. TheStreet lowered shares of Berry Global Group from a “b” rating to a “c+” rating in a report on Tuesday. Morgan Stanley set a $60.00 price objective on shares of Berry Global Group and gave the stock a “hold” rating in a report on Wednesday, April 17th. Wells Fargo & Co initiated coverage on shares of Berry Global Group in a report on Wednesday, July 24th. They issued an “outperform” rating and a $65.00 price objective for the company. Finally, Bank of America lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $61.57.

NYSE:BERY traded down $1.36 during midday trading on Thursday, reaching $43.69. 2,888,669 shares of the stock traded hands, compared to its average volume of 1,555,890. The business has a fifty day moving average of $52.26. Berry Global Group has a 12 month low of $40.50 and a 12 month high of $59.16. The company has a quick ratio of 1.19, a current ratio of 2.01 and a debt-to-equity ratio of 3.72. The firm has a market capitalization of $5.93 billion, a PE ratio of 12.96, a P/E/G ratio of 1.34 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 raised its stake in Berry Global Group by 66.7% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 500 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 200 shares during the period. First Interstate Bank raised its position in shares of Berry Global Group by 29.6% during 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 raised its position in shares of Berry Global Group by 3.4% during 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 raised its position in shares of Berry Global Group by 21.6% during 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 raised its position in shares of Berry Global Group by 2.1% during 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 and hedge funds own 95.35% of the company’s stock.

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 and Estimates for Berry Global Group (NYSE:BERY)

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