Zacks: Analysts Expect Berry Global Group Inc (NYSE:BERY) to Announce $1.24 Earnings Per Share

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 …

Berry Global Group logoEquities 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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