Berry Global Group (NYSE:BERY) Updates FY 2022 Earnings Guidance

Berry Global Group (NYSE:BERY) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $7.200-$7.700 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.350. The company issued revenue guidance of -.

Several research firms recently issued reports on BERY. Raymond James began coverage on Berry Global Group in a research report on Wednesday. They set a market perform rating on the stock. Truist Securities began coverage on Berry Global Group in a research report on Tuesday, September 14th. They set a buy rating and a $85.00 price target on the stock. Truist began coverage on Berry Global Group in a research report on Monday, September 13th. They set a positive rating and a $85.00 price target on the stock. Wells Fargo & Company reduced their price target on Berry Global Group from $80.00 to $78.00 and set an overweight rating on the stock in a research report on Thursday, October 14th. Finally, Robert W. Baird reiterated a buy rating and issued a $83.00 price objective on shares of Berry Global Group in a report on Friday, August 6th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $79.00.

NYSE BERY traded down $0.46 on Thursday, hitting $65.16. The company’s stock had a trading volume of 442,697 shares, compared to its average volume of 938,028. The firm has a market cap of $8.84 billion, a P/E ratio of 12.25, a PEG ratio of 1.08 and a beta of 1.34. The company has a current ratio of 1.60, a quick ratio of 1.00 and a debt-to-equity ratio of 2.97. The company’s 50-day simple moving average is $64.54 and its 200 day simple moving average is $65.50. Berry Global Group has a 52-week low of $48.65 and a 52-week high of $70.90.

Berry Global Group (NYSE:BERY) last released its earnings results on Thursday, November 18th. The industrial products company reported $1.55 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.02. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Berry Global Group had a return on equity of 30.09% and a net margin of 5.29%. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.59 EPS. On average, research analysts forecast that Berry Global Group will post 6.06 EPS for the current fiscal year.

In other news, President Curt Begle sold 14,000 shares of the firm’s stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $67.99, for a total value of $951,860.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.40% of the company’s stock.

An institutional investor recently bought a new position in Berry Global Group stock. LPL Financial LLC bought a new position in Berry Global Group, Inc. (NYSE:BERY) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 14,982 shares of the industrial products company’s stock, valued at approximately $912,000. 96.08% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Company Profile

Berry Global Group, Inc engages in the provision of value added engineered materials, nonwoven specialty materials and consumer packaging with customized solutions. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials and Health, Hygiene & Specialties.

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Earnings History and Estimates for Berry Global Group (NYSE:BERY)

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