Berry Global Group (NYSE:BERY) Issues FY24 Earnings Guidance

Berry Global Group (NYSE:BERY) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $7.35 to $7.85 for the period, compared to the consensus EPS estimate of $7.48.

Analyst Ratings Changes

A number of equities analysts have commented on BERY shares. Robert W. Baird reiterated a neutral rating and issued a $65.00 target price (down from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. StockNews.com downgraded shares of Berry Global Group from a buy rating to a hold rating in a report on Thursday, February 8th. Royal Bank of Canada reiterated a sector perform rating and issued a $62.00 target price (down from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. Wolfe Research initiated coverage on shares of Berry Global Group in a report on Friday, March 1st. They issued a peer perform rating for the company. Finally, UBS Group boosted their price objective on shares of Berry Global Group from $76.00 to $89.00 and gave the company a buy rating in a report on Tuesday, January 16th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $72.00.

Berry Global Group Price Performance

NYSE:BERY opened at $61.25 on Thursday. The firm has a market cap of $7.10 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 0.80 and a beta of 1.24. The stock has a 50 day moving average of $58.73 and a two-hundred day moving average of $61.55. Berry Global Group has a 12 month low of $53.92 and a 12 month high of $69.93. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62.

Berry Global Group (NYSE:BERY) last announced its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.07). The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. Berry Global Group’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.30 earnings per share. On average, analysts expect that Berry Global Group will post 7.38 earnings per share for the current fiscal year.

Insider Transactions at Berry Global Group

In other news, Director Jonathan F. Foster acquired 1,000 shares of Berry Global Group stock in a transaction dated Monday, February 12th. The shares were acquired at an average cost of $58.49 per share, for a total transaction of $58,490.00. Following the acquisition, the director now owns 5,728 shares of the company’s stock, valued at $335,030.72. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.