$3.17 Billion in Sales Expected for Berry Global Group Inc (NYSE:BERY) This Quarter

Equities research analysts expect Berry Global Group Inc (NYSE:BERY) to report sales of $3.17 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Berry Global Group’s earnings. The lowest sales estimate is $3.04 billion and the highest is $3.23 billion. Berry Global Group reported sales of $2.05 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 54.6%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 21st.

According to Zacks, analysts expect that Berry Global Group will report full-year sales of $9.00 billion for the current year, with estimates ranging from $8.83 billion to $9.09 billion. For the next year, analysts expect that the business will report sales of $12.58 billion, with estimates ranging from $12.08 billion to $12.86 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Berry Global Group.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.10). The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.03 billion. Berry Global Group had a return on equity of 30.65% and a net margin of 3.89%. The company’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 earnings per share.

BERY has been the topic of several recent research reports. ValuEngine cut shares of Berry Global Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Goldman Sachs Group restated a “buy” rating and issued a $52.00 price target on shares of Berry Global Group in a research report on Thursday, August 22nd. TheStreet downgraded Berry Global Group from a “b” rating to a “c+” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. initiated coverage on Berry Global Group in a research report on Tuesday, July 16th. They issued an “overweight” rating and a $63.00 price target for the company. Finally, Wells Fargo & Co initiated coverage on Berry Global Group in a research report on Wednesday, July 24th. They issued an “outperform” rating and a $65.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $59.63.

Several institutional investors have recently bought and sold shares of the company. Eminence Capital LP lifted its position in Berry Global Group by 11.6% in the second quarter. Eminence Capital LP now owns 12,280,431 shares of the industrial products company’s stock worth $645,828,000 after purchasing an additional 1,274,346 shares during the period. Vanguard Group Inc. lifted its stake in Berry Global Group by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 11,896,672 shares of the industrial products company’s stock valued at $625,646,000 after purchasing an additional 260,484 shares during the last quarter. Nuveen Asset Management LLC bought a new position in Berry Global Group in the 2nd quarter valued at approximately $327,078,000. Canyon Capital Advisors LLC increased its position in Berry Global Group by 13.7% in the 2nd quarter. Canyon Capital Advisors LLC now owns 5,786,713 shares of the industrial products company’s stock valued at $304,323,000 after acquiring an additional 699,013 shares during the period. Finally, BlackRock Inc. increased its position in shares of Berry Global Group by 0.6% during the first quarter. BlackRock Inc. now owns 5,642,308 shares of the industrial products company’s stock worth $303,951,000 after buying an additional 35,742 shares during the period. Institutional investors and hedge funds own 94.65% of the company’s stock.

BERY traded up $0.47 during midday trading on Tuesday, hitting $38.12. 927,382 shares of the company traded hands, compared to its average volume of 1,029,470. The company has a quick ratio of 1.14, a current ratio of 1.88 and a debt-to-equity ratio of 3.52. The firm has a market capitalization of $4.97 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The company’s 50-day moving average is $39.24 and its 200 day moving average is $48.70. Berry Global Group has a 52 week low of $36.98 and a 52 week high of $59.16.

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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