Analysts Anticipate Berry Global Group Inc (NYSE:BERY) Will Announce Quarterly Sales of $3.07 Billion

Wall Street analysts expect that Berry Global Group Inc (NYSE:BERY) will report $3.07 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Berry Global Group’s earnings. The lowest sales estimate is $2.94 billion and the highest is $3.15 billion. Berry Global Group posted sales of $1.95 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 57.4%. The firm is scheduled to announce its next quarterly earnings results on Thursday, May 7th.

According to Zacks, analysts expect that Berry Global Group will report full year sales of $12.09 billion for the current year, with estimates ranging from $11.87 billion to $12.38 billion. For the next fiscal year, analysts expect that the company will report sales of $12.29 billion, with estimates ranging from $11.96 billion to $12.99 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Berry Global Group.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Berry Global Group had a net margin of 3.73% and a return on equity of 26.56%. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 42.8% compared to the same quarter last year.

A number of research firms recently commented on BERY. Zacks Investment Research raised shares of Berry Global Group from a “sell” rating to a “hold” rating and set a $38.00 price target for the company in a research note on Wednesday, November 27th. ValuEngine raised shares of Berry Global Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Barclays initiated coverage on shares of Berry Global Group in a research report on Thursday, January 16th. They issued an “equal weight” rating and a $50.00 price objective for the company. KeyCorp reissued a “hold” rating on shares of Berry Global Group in a research report on Friday, January 31st. Finally, Credit Suisse Group initiated coverage on shares of Berry Global Group in a research report on Thursday. They issued an “outperform” rating and a $62.00 price objective for the company. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $55.91.

A number of institutional investors have recently added to or reduced their stakes in BERY. EdgePoint Investment Group Inc. purchased a new stake in Berry Global Group in the 3rd quarter valued at about $151,473,000. CI Investments Inc. purchased a new stake in Berry Global Group in the 4th quarter valued at about $138,257,000. Canyon Capital Advisors LLC boosted its position in Berry Global Group by 19.2% in the 3rd quarter. Canyon Capital Advisors LLC now owns 6,898,188 shares of the industrial products company’s stock valued at $270,892,000 after buying an additional 1,111,475 shares during the period. Marshall Wace North America L.P. boosted its position in Berry Global Group by 24.3% in the 4th quarter. Marshall Wace North America L.P. now owns 5,510,822 shares of the industrial products company’s stock valued at $261,709,000 after buying an additional 1,076,252 shares during the period. Finally, Bank of America Corp DE boosted its position in Berry Global Group by 160.5% in the 4th quarter. Bank of America Corp DE now owns 1,403,974 shares of the industrial products company’s stock valued at $66,675,000 after buying an additional 864,919 shares during the period. 95.59% of the stock is owned by institutional investors.

BERY stock opened at $41.94 on Friday. Berry Global Group has a 12 month low of $36.98 and a 12 month high of $59.16. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 6.24. The company has a 50-day moving average price of $45.41 and a 200 day moving average price of $42.92. The stock has a market cap of $5.60 billion, a PE ratio of 13.21, a P/E/G ratio of 0.82 and a beta of 1.36.

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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