Berry Global Group Inc (NYSE:BERY) – Equities researchers at KeyCorp cut their FY2019 EPS estimates for shares of Berry Global Group in a research note issued to investors on Wednesday, August 14th. KeyCorp analyst A. Josephson now forecasts that the industrial products company will post earnings of $3.26 per share for the year, down from their prior forecast of $3.44. KeyCorp also issued estimates for Berry Global Group’s Q4 2019 earnings at $0.74 EPS and FY2020 earnings at $3.63 EPS.
Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.10). Berry Global Group had a return on equity of 30.65% and a net margin of 3.89%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company posted $0.96 earnings per share. The company’s quarterly revenue was down 6.5% compared to the same quarter last year.
Shares of Berry Global Group stock opened at $39.41 on Monday. Berry Global Group has a 12-month low of $38.60 and a 12-month high of $59.16. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.98 and a beta of 1.17. The company has a current ratio of 1.88, a quick ratio of 1.14 and a debt-to-equity ratio of 3.52. The company’s 50-day moving average price is $48.59 and its 200-day moving average price is $51.51.
Several hedge funds have recently bought and sold shares of BERY. Nuveen Asset Management LLC bought a new position in shares of Berry Global Group in the second quarter worth approximately $327,078,000. Eminence Capital LP increased its position in shares of 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 last quarter. JPMorgan Chase & Co. increased its position in shares of Berry Global Group by 685.1% in the first quarter. JPMorgan Chase & Co. now owns 1,125,757 shares of the industrial products company’s stock worth $60,644,000 after purchasing an additional 982,361 shares during the last quarter. Marshall Wace North America L.P. increased its position in shares of Berry Global Group by 22.2% in the second quarter. Marshall Wace North America L.P. now owns 4,301,974 shares of the industrial products company’s stock worth $226,241,000 after purchasing an additional 780,573 shares during the last quarter. Finally, Southpoint Capital Advisors LP bought a new position in shares of Berry Global Group in the second quarter worth approximately $36,813,000. Institutional investors own 94.09% of the company’s stock.
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.
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