Zacks: Brokerages Anticipate Berry Global Group Inc (BERY) Will Post Quarterly Sales of $2.01 Billion

Brokerages expect that Berry Global Group Inc (NYSE:BERY) will report sales of $2.01 billion for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Berry Global Group’s earnings, with the lowest sales estimate coming in at $1.98 billion and the highest estimate coming in at $2.04 billion. Berry Global Group posted sales of $1.88 billion during the same quarter last year, which would indicate a positive year over year growth rate of 6.9%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, November 15th.

On average, analysts expect that Berry Global Group will report full-year sales of $7.83 billion for the current fiscal year, with estimates ranging from $7.80 billion to $7.86 billion. For the next year, analysts forecast that the firm will post sales of $8.10 billion, with estimates ranging from $7.96 billion to $8.22 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Berry Global Group.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Friday, August 3rd. The industrial products company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.09). Berry Global Group had a return on equity of 35.88% and a net margin of 6.15%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the company posted $0.93 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis.



A number of equities analysts recently commented on BERY shares. KeyCorp restated a “hold” rating on shares of Berry Global Group in a report on Friday, August 3rd. Cfra restated a “buy” rating and issued a $57.00 price objective on shares of Berry Global Group in a report on Thursday, September 6th. ValuEngine upgraded Berry Global Group from a “strong sell” rating to a “sell” rating in a report on Thursday, September 13th. Finally, Zacks Investment Research upgraded Berry Global Group from a “sell” rating to a “hold” rating in a report on Monday, October 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $65.75.

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new position in Berry Global Group during the second quarter valued at approximately $105,000. First Hawaiian Bank bought a new stake in shares of Berry Global Group in the third quarter valued at approximately $129,000. Nisa Investment Advisors LLC bought a new stake in shares of Berry Global Group in the third quarter valued at approximately $145,000. Atria Investments LLC bought a new stake in shares of Berry Global Group in the second quarter valued at approximately $212,000. Finally, Sawtooth Solutions LLC bought a new stake in shares of Berry Global Group in the third quarter valued at approximately $229,000. Institutional investors own 93.67% of the company’s stock.

NYSE:BERY traded up $0.52 during mid-day trading on Friday, reaching $41.69. The stock had a trading volume of 1,129,280 shares, compared to its average volume of 1,312,814. Berry Global Group has a fifty-two week low of $40.50 and a fifty-two week high of $61.71. The company has a market capitalization of $5.52 billion, a P/E ratio of 13.58, a P/E/G ratio of 0.55 and a beta of 1.12. The company has a debt-to-equity ratio of 4.41, a quick ratio of 1.19 and a current ratio of 2.01.

About Berry Global Group

Berry Global Group, Inc manufactures and distributes engineered materials, nonwoven specialty materials, and consumer packaging products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. It 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, vinyl-coated and carton sealing, electrical, 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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