Zacks: Analysts Anticipate Berry Global Group Inc (NYSE:BERY) Will Announce Quarterly Sales of $3.17 Billion
Wall Street analysts expect Berry Global Group Inc (NYSE:BERY) to announce $3.17 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Berry Global Group’s earnings, with estimates ranging from $3.04 billion to $3.23 billion. Berry Global Group reported sales of $2.05 billion during the same quarter last year, which would suggest a positive year over year growth rate of 54.6%. The firm is expected to issue its next quarterly earnings report on Thursday, November 21st.
On average, analysts expect that Berry Global Group will report full year sales of $8.99 billion for the current fiscal year, with estimates ranging from $8.83 billion to $9.09 billion. For the next fiscal year, analysts forecast that the firm will post sales of $12.57 billion, with estimates ranging from $12.08 billion to $12.86 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Berry Global Group.
Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.10). The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Berry Global Group had a net margin of 3.89% and a return on equity of 30.65%. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 earnings per share.
Shares of NYSE BERY traded up $1.10 during mid-day trading on Friday, reaching $41.01. 1,562,645 shares of the company were exchanged, compared to its average volume of 1,556,368. Berry Global Group has a 52 week low of $38.60 and a 52 week high of $59.16. The company has a quick ratio of 1.14, a current ratio of 1.88 and a debt-to-equity ratio of 3.52. The stock has a market capitalization of $5.27 billion, a PE ratio of 12.17, a PEG ratio of 0.99 and a beta of 1.17. The company’s 50 day moving average price is $48.05 and its 200 day moving average price is $51.43.
A number of institutional investors and hedge funds have recently made changes to their positions in BERY. Icon Wealth Partners LLC bought a new position in shares of Berry Global Group during the first quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC increased its stake in shares of Berry Global Group by 66.7% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 500 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 200 shares during the period. Heritage Wealth Advisors acquired a new stake in Berry Global Group during the second quarter valued at $47,000. Private Capital Group LLC grew its position in Berry Global Group by 236.5% during the first quarter. Private Capital Group LLC now owns 1,033 shares of the industrial products company’s stock valued at $56,000 after buying an additional 726 shares during the period. Finally, First Interstate Bank grew its position in Berry Global Group by 29.6% during the first quarter. First Interstate Bank now owns 1,509 shares of the industrial products company’s stock valued at $81,000 after buying an additional 345 shares during the period. 94.09% of the stock is currently owned by hedge funds and other institutional investors.
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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