Berry Global Group (NYSE:BERY) Releases Quarterly Earnings Results
Berry Global Group (NYSE:BERY) released its quarterly earnings results on Thursday. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.16, Briefing.com reports. Berry Global Group had a return on equity of 30.65% and a net margin of 3.89%. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 47.0% on a year-over-year basis.
BERY opened at $46.46 on Friday. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 0.93 and a beta of 1.26. The business’s 50-day moving average price is $40.62 and its two-hundred day moving average price is $45.09. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.88 and a quick ratio of 1.14. Berry Global Group has a 1 year low of $36.98 and a 1 year high of $59.16.
Several analysts have issued reports on the company. ValuEngine raised Berry Global Group from a “sell” rating to a “hold” rating in a research note on Thursday. Citigroup dropped their price target on Berry Global Group from $59.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Bank of America raised Berry Global Group from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, September 25th. They noted that the move was a valuation call. TheStreet downgraded Berry Global Group from a “b” rating to a “c+” rating in a research note on Tuesday, July 30th. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $52.00 price target on shares of Berry Global Group in a research note on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.38.
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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