Wall Street brokerages expect Berry Global Group Inc (NYSE:BERY) to report $2.02 billion in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Berry Global Group’s earnings. The highest sales estimate is $2.05 billion and the lowest is $2.00 billion. Berry Global Group reported sales of $2.07 billion in the same quarter last year, which would suggest a negative year over year growth rate of 2.4%. The business is scheduled to announce its next earnings report on Friday, August 2nd.
On average, analysts expect that Berry Global Group will report full-year sales of $8.03 billion for the current year, with estimates ranging from $7.89 billion to $8.21 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $8.15 billion, with estimates ranging from $7.89 billion to $8.46 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Berry Global Group.
Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.14). Berry Global Group had a return on equity of 32.42% and a net margin of 5.03%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period last year, the business earned $0.84 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis.
Shares of BERY stock traded up $0.12 during trading on Friday, reaching $47.87. The company had a trading volume of 1,122,000 shares, compared to its average volume of 1,610,360. The company has a debt-to-equity ratio of 3.72, a quick ratio of 1.19 and a current ratio of 2.01. Berry Global Group has a one year low of $40.50 and a one year high of $59.16. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.33 and a beta of 1.03.
In other news, EVP Jason K. Greene sold 7,455 shares of the company’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $52.63, for a total transaction of $392,356.65. Following the completion of the transaction, the executive vice president now directly owns 7,705 shares of the company’s stock, valued at $405,514.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jason K. Greene sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $57.50, for a total value of $575,000.00. Following the sale, the executive vice president now owns 10,250 shares in the company, valued at approximately $589,375. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,455 shares of company stock valued at $1,517,357. 1.60% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in BERY. Nordea Investment Management AB raised its stake in Berry Global Group by 46.0% in the third quarter. Nordea Investment Management AB now owns 96,674 shares of the industrial products company’s stock valued at $4,679,000 after buying an additional 30,450 shares during the period. Morgan Stanley increased its stake in shares of Berry Global Group by 143.5% during the third quarter. Morgan Stanley now owns 265,825 shares of the industrial products company’s stock worth $12,864,000 after purchasing an additional 156,651 shares during the period. Vanguard Group Inc increased its stake in shares of Berry Global Group by 1.4% during the third quarter. Vanguard Group Inc now owns 11,429,603 shares of the industrial products company’s stock worth $553,077,000 after purchasing an additional 158,823 shares during the period. Virtu Financial LLC bought a new position in shares of Berry Global Group during the fourth quarter worth approximately $294,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Berry Global Group during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 94.80% 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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