Brokerages forecast that Berry Global Group Inc (NYSE:BERY) will report earnings per share (EPS) of $0.82 for the current quarter, Zacks reports. Seven analysts have issued estimates for Berry Global Group’s earnings, with the lowest EPS estimate coming in at $0.68 and the highest estimate coming in at $0.89. Berry Global Group also posted earnings per share of $0.82 in the same quarter last year. The company is expected to issue its next quarterly earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Berry Global Group will report full year earnings of $2.87 per share for the current financial year, with EPS estimates ranging from $2.60 to $2.97. For the next fiscal year, analysts forecast that the company will post earnings of $3.29 per share, with EPS estimates ranging from $2.75 to $3.60. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Berry Global Group.
Berry Global Group (NYSE:BERY) last announced its earnings results on Wednesday, May 3rd. The industrial products company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.79 billion. Berry Global Group had a net margin of 4.44% and a return on equity of 192.84%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 EPS. Several brokerages have weighed in on BERY. Zacks Investment Research raised Berry Global Group from a “sell” rating to a “hold” rating in a research report on Friday. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $67.00 target price (up from $62.00) on shares of Berry Global Group in a research report on Friday. Royal Bank of Canada reaffirmed a “buy” rating and issued a $63.00 target price on shares of Berry Global Group in a research report on Friday. Jefferies Group LLC increased their target price on Berry Global Group from $59.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Deutsche Bank AG increased their target price on Berry Global Group from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $55.00.
In other news, President Curt Begle sold 18,000 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $55.23, for a total value of $994,140.00. Following the completion of the transaction, the president now owns 31,200 shares of the company’s stock, valued at $1,723,176. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark W. Miles sold 10,000 shares of the stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $49.36, for a total value of $493,600.00. Following the completion of the transaction, the chief financial officer now directly owns 72,916 shares of the company’s stock, valued at approximately $3,599,133.76. The disclosure for this sale can be found here. Corporate insiders own 3.11% of the company’s stock. Several hedge funds and other institutional investors have recently added to or reduced their stakes in BERY. Norges Bank acquired a new position in Berry Global Group during the fourth quarter valued at about $62,465,000. Wells Fargo & Company MN boosted its position in shares of Berry Global Group by 616.4% in the third quarter. Wells Fargo & Company MN now owns 3,164,361 shares of the industrial products company’s stock valued at $138,759,000 after buying an additional 2,722,667 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Berry Global Group by 2.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,018,675 shares of the industrial products company’s stock valued at $132,369,000 after buying an additional 59,340 shares in the last quarter. DSAM Partners London Ltd boosted its position in shares of Berry Global Group by 20.9% in the third quarter. DSAM Partners London Ltd now owns 647,248 shares of the industrial products company’s stock valued at $28,382,000 after buying an additional 112,099 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Berry Global Group during the third quarter valued at $2,942,000. 96.56% of the stock is owned by institutional investors.
About Berry Global Group Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.
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