$1.97 Billion in Sales Expected for Berry Global Group Inc (BERY) This Quarter
Wall Street brokerages expect that Berry Global Group Inc (NYSE:BERY) will report sales of $1.97 billion for the current quarter, Zacks reports. Six analysts have made estimates for Berry Global Group’s earnings, with the highest sales estimate coming in at $2.06 billion and the lowest estimate coming in at $1.92 billion. Berry Global Group reported sales of $1.81 billion in the same quarter last year, which would suggest a positive year over year growth rate of 8.8%. The company is expected to report its next earnings results on Wednesday, May 2nd.
On average, analysts expect that Berry Global Group will report full year sales of $1.97 billion for the current year, with estimates ranging from $7.58 billion to $8.05 billion. For the next financial year, analysts forecast that the company will report sales of $7.96 billion per share, with estimates ranging from $7.65 billion to $8.30 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Berry Global Group.
Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Berry Global Group had a return on equity of 47.10% and a net margin of 6.13%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 earnings per share.
Shares of Berry Global Group (BERY) opened at $55.71 on Friday. The stock has a market capitalization of $7,309.15, a price-to-earnings ratio of 16.68, a P/E/G ratio of 0.73 and a beta of 1.04. Berry Global Group has a 12-month low of $47.19 and a 12-month high of $61.71. The company has a current ratio of 1.72, a quick ratio of 0.96 and a debt-to-equity ratio of 4.69.
In other Berry Global Group news, Director Paula A. Sneed acquired 1,000 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were acquired at an average cost of $53.63 per share, for a total transaction of $53,630.00. Following the completion of the purchase, the director now owns 1,050 shares of the company’s stock, valued at approximately $56,311.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC increased its stake in shares of Berry Global Group by 3.7% in the fourth quarter. TIAA CREF Investment Management LLC now owns 5,857,695 shares of the industrial products company’s stock worth $343,671,000 after purchasing an additional 210,107 shares during the period. BlackRock Inc. increased its stake in shares of Berry Global Group by 2.6% in the fourth quarter. BlackRock Inc. now owns 5,386,897 shares of the industrial products company’s stock worth $316,046,000 after purchasing an additional 136,987 shares during the period. Boston Partners increased its stake in shares of Berry Global Group by 4.1% in the fourth quarter. Boston Partners now owns 4,089,152 shares of the industrial products company’s stock worth $239,911,000 after purchasing an additional 160,491 shares during the period. Luminus Management LLC increased its stake in shares of Berry Global Group by 54.9% in the fourth quarter. Luminus Management LLC now owns 3,815,703 shares of the industrial products company’s stock worth $223,867,000 after purchasing an additional 1,352,044 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Berry Global Group by 2.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,827,715 shares of the industrial products company’s stock worth $165,902,000 after purchasing an additional 55,228 shares during the period. Institutional investors and hedge funds own 93.87% of the company’s stock.
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About Berry Global Group
Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.
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