$0.73 EPS Expected for Berry Global Group Inc (BERY) This Quarter

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Wall Street analysts forecast that Berry Global Group Inc (NYSE:BERY) will post $0.73 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Berry Global Group’s earnings. The lowest EPS estimate is $0.69 and the highest is $0.82. Berry Global Group reported earnings of $0.67 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 9%. The business is scheduled to report its next quarterly earnings report before the market opens on Friday, February 1st.

On average, analysts expect that Berry Global Group will report full-year earnings of $3.80 per share for the current fiscal year, with EPS estimates ranging from $3.61 to $3.95. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.16 per share, with EPS estimates ranging from $3.69 to $4.50. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Berry Global Group.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Thursday, November 15th. The industrial products company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. Berry Global Group had a net margin of 6.30% and a return on equity of 34.77%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion.

A number of brokerages have issued reports on BERY. Zacks Investment Research reissued a “sell” rating on shares of Berry Global Group in a report on Monday, November 12th. Morgan Stanley began coverage on shares of Berry Global Group in a report on Wednesday, January 16th. They set an “equal weight” rating and a $53.00 target price on the stock. Citigroup boosted their target price on shares of Berry Global Group from $56.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 16th. ValuEngine raised shares of Berry Global Group from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Finally, TheStreet cut shares of Berry Global Group from a “b” rating to a “c+” rating in a report on Monday, October 29th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $61.75.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Canyon Capital Advisors LLC boosted its holdings in Berry Global Group by 9.6% in the third quarter. Canyon Capital Advisors LLC now owns 8,670,022 shares of the industrial products company’s stock worth $419,542,000 after purchasing an additional 759,742 shares during the last quarter. Marshall Wace LLP boosted its holdings in Berry Global Group by 130.4% in the third quarter. Marshall Wace LLP now owns 633,510 shares of the industrial products company’s stock worth $30,656,000 after purchasing an additional 358,588 shares during the last quarter. Credit Suisse AG boosted its holdings in Berry Global Group by 153.5% in the third quarter. Credit Suisse AG now owns 410,490 shares of the industrial products company’s stock worth $19,863,000 after purchasing an additional 248,552 shares during the last quarter. Gluskin Sheff & Assoc Inc. boosted its holdings in Berry Global Group by 184.0% in the third quarter. Gluskin Sheff & Assoc Inc. now owns 267,419 shares of the industrial products company’s stock worth $12,940,000 after purchasing an additional 173,248 shares during the last quarter. Finally, Vanguard Group Inc boosted its holdings in Berry Global Group by 1.4% in 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 last quarter. 95.89% of the stock is owned by institutional investors and hedge funds.

BERY stock traded up $0.06 during midday trading on Monday, reaching $50.42. 1,491,879 shares of the company’s stock traded hands, compared to its average volume of 1,032,005. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.85 and a quick ratio of 1.13. Berry Global Group has a 52 week low of $40.50 and a 52 week high of $60.40. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 0.80 and a beta of 1.11.

About Berry Global Group

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.

Read More: Understanding debt-to-equity ratio in fundamental analysis

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Earnings History and Estimates for Berry Global Group (NYSE:BERY)

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