Equities research analysts expect Berry Global Group Inc (NYSE:BERY) to announce earnings of $1.24 per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Berry Global Group’s earnings. The lowest EPS estimate is $1.17 and the highest is $1.38. Berry Global Group reported earnings per share of $0.90 during the same quarter last year, which indicates a positive year-over-year growth rate of 37.8%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 19th.
According to Zacks, analysts expect that Berry Global Group will report full year earnings of $4.51 per share for the current year, with EPS estimates ranging from $4.44 to $4.64. For the next financial year, analysts anticipate that the business will report earnings of $5.15 per share, with EPS estimates ranging from $4.92 to $5.37. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Berry Global Group.
Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Friday, July 31st. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.37. Berry Global Group had a return on equity of 32.39% and a net margin of 5.06%. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the firm earned $0.90 EPS. The firm’s quarterly revenue was up 50.2% compared to the same quarter last year.
BERY has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their target price on shares of Berry Global Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Wells Fargo & Co boosted their target price on shares of Berry Global Group from $56.00 to $64.00 in a research report on Monday, August 3rd. JPMorgan Chase & Co. boosted their target price on shares of Berry Global Group from $59.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. BMO Capital Markets boosted their price objective on shares of Berry Global Group from $52.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. They noted that the move was a valuation call. Finally, TheStreet upgraded shares of Berry Global Group from a “c+” rating to a “b-” rating in a report on Monday, July 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $57.64.
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Shares of NYSE BERY opened at $53.05 on Friday. The company has a market cap of $7.03 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.18 and a beta of 1.34. The company has a current ratio of 1.93, a quick ratio of 1.27 and a debt-to-equity ratio of 5.72. Berry Global Group has a 12-month low of $25.00 and a 12-month high of $54.98. The stock has a fifty day moving average price of $51.18 and a 200 day moving average price of $42.41.
In related news, CFO Mark W. Miles sold 52,916 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $54.20, for a total value of $2,868,047.20. Following the sale, the chief financial officer now owns 20,000 shares of the company’s stock, valued at $1,084,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Curt Begle sold 10,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $51.41, for a total transaction of $514,100.00. Following the completion of the sale, the president now directly owns 10,000 shares in the company, valued at approximately $514,100. The disclosure for this sale can be found here. In the last three months, insiders sold 96,916 shares of company stock worth $5,214,487. 2.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB acquired a new position in Berry Global Group in the second quarter valued at about $1,066,000. Nuveen Asset Management LLC boosted its position in Berry Global Group by 0.4% in the second quarter. Nuveen Asset Management LLC now owns 3,902,710 shares of the industrial products company’s stock valued at $172,969,000 after buying an additional 16,394 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Berry Global Group by 0.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 697,646 shares of the industrial products company’s stock valued at $30,920,000 after buying an additional 4,783 shares in the last quarter. Advisors Capital Management LLC boosted its position in Berry Global Group by 4.9% in the second quarter. Advisors Capital Management LLC now owns 143,052 shares of the industrial products company’s stock valued at $6,340,000 after buying an additional 6,642 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Berry Global Group by 24.9% in the second quarter. AQR Capital Management LLC now owns 10,293 shares of the industrial products company’s stock valued at $449,000 after buying an additional 2,050 shares in the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.
Berry Global Group Company Profile
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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As you know, a single upgrade from a broker probably won’t be a major game changer for any single stock. But, what if there was a stock that had been upgraded by more than 10 different brokers during the last 90 days?
If ten different brokers have all upgraded a stock within the last few months and the price hasn’t skyrocketed (at least, not yet), you would want to take a pretty hard look at it.
It turns out that there are actually 20 different companies that have been upgraded or had their price target increased at least ten times during the last ninety days by more than 10 different brokers. This slideshow lists those companies.