Berry Global Group (BERY) Set to Announce Earnings on Thursday

Berry Global Group (NYSE:BERY) is scheduled to be announcing its earnings results before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of $1.92 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Berry Global Group (NYSE:BERY) last released its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, analysts expect Berry Global Group to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Berry Global Group Stock Up 1.4 %

Shares of NYSE:BERY opened at $60.95 on Wednesday. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.67 and a quick ratio of 0.95. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 0.80 and a beta of 1.24. The company has a 50 day moving average of $58.66 and a 200-day moving average of $61.55. Berry Global Group has a one year low of $53.92 and a one year high of $69.93.

Insider Activity

In related news, Director Jonathan F. Foster acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average cost of $58.49 per share, for a total transaction of $58,490.00. Following the completion of the acquisition, the director now directly owns 5,728 shares in the company, valued at approximately $335,030.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Peter T. Thomas purchased 2,000 shares of Berry Global Group stock in a transaction on Thursday, February 8th. The stock was purchased at an average price of $56.00 per share, with a total value of $112,000.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $112,000. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jonathan F. Foster purchased 1,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average cost of $58.49 per share, with a total value of $58,490.00. Following the completion of the purchase, the director now directly owns 5,728 shares in the company, valued at $335,030.72. The disclosure for this purchase can be found here. Corporate insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group upped their target price on shares of Berry Global Group from $76.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Royal Bank of Canada restated a “sector perform” rating and set a $62.00 target price (down previously from $72.00) on shares of Berry Global Group in a report on Friday, March 15th. Robert W. Baird reaffirmed a “neutral” rating and issued a $65.00 price target (down from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. Mizuho cut their price target on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. Finally, TheStreet cut shares of Berry Global Group from a “b-” rating to a “c+” rating in a report on Monday, February 26th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $72.00.

About Berry Global Group

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.