Berry Global Group (NYSE:BERY) Releases Earnings Results, Beats Estimates By $0.28 EPS

Berry Global Group (NYSE:BERY) issued its earnings results on Tuesday. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.28, MarketWatch Earnings reports. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.22 billion. Berry Global Group had a return on equity of 35.39% and a net margin of 4.77%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 EPS.

Shares of BERY opened at $65.85 on Wednesday. Berry Global Group has a 12-month low of $36.38 and a 12-month high of $67.24. The company has a quick ratio of 1.17, a current ratio of 1.75 and a debt-to-equity ratio of 4.86. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.00 and a beta of 1.37. The stock’s 50-day moving average price is $61.81 and its 200 day moving average price is $55.92.

A number of brokerages have recently weighed in on BERY. Jefferies Financial Group lifted their price target on Berry Global Group from $70.00 to $73.00 in a report on Thursday, April 15th. The Goldman Sachs Group began coverage on Berry Global Group in a report on Thursday, April 15th. They set a “buy” rating and a $75.00 price target on the stock. Citigroup lifted their price target on Berry Global Group from $67.00 to $70.00 in a report on Tuesday, February 9th. BMO Capital Markets lifted their price target on Berry Global Group from $60.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, February 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Berry Global Group from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $65.81.

In other news, President Curt Begle sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $59.00, for a total value of $1,062,000.00. Following the sale, the president now directly owns 18,000 shares in the company, valued at approximately $1,062,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jason K. Greene sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the sale, the executive vice president now owns 15,250 shares in the company, valued at $915,000. The disclosure for this sale can be found here. Insiders have sold 66,000 shares of company stock worth $4,023,000 over the last 90 days. Corporate insiders own 2.00% 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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Earnings History for Berry Global Group (NYSE:BERY)

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