Berry Global Group (NYSE:BERY) Updates FY 2024 Earnings Guidance

Berry Global Group (NYSE:BERY) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 7.350-7.850 for the period, compared to the consensus EPS estimate of 7.480. The company issued revenue guidance of -. Berry Global Group also updated its FY24 guidance to $7.35 to $7.85 EPS.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BERY. TheStreet cut shares of Berry Global Group from a b- rating to a c+ rating in a research report on Monday, February 26th. Royal Bank of Canada reissued a sector perform rating and issued a $62.00 price objective (down from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. Robert W. Baird reiterated a neutral rating and issued a $65.00 target price (down previously from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. Mizuho decreased their price target on shares of Berry Global Group from $74.00 to $65.00 and set a neutral rating for the company in a report on Thursday, February 8th. Finally, Wolfe Research started coverage on shares of Berry Global Group in a research report on Friday, March 1st. They set a peer perform rating on the stock. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Berry Global Group currently has a consensus rating of Hold and an average price target of $72.00.

Berry Global Group Stock Performance

Berry Global Group stock traded down $1.11 on Thursday, reaching $60.15. 304,658 shares of the stock were exchanged, compared to its average volume of 1,109,638. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62. The firm has a fifty day moving average price of $58.73 and a two-hundred day moving average price of $61.55. The stock has a market cap of $6.97 billion, a PE ratio of 13.17, a PEG ratio of 0.80 and a beta of 1.24. Berry Global Group has a twelve month low of $53.92 and a twelve month high of $69.93.

Berry Global Group (NYSE:BERY) last released its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the business earned $1.30 EPS. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. Sell-side analysts anticipate that Berry Global Group will post 7.38 EPS for the current year.

Insider Activity at Berry Global Group

In other news, Director Jonathan F. Foster bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average cost of $58.49 per share, with a total value of $58,490.00. Following the completion of the transaction, the director now directly owns 5,728 shares in the company, valued at $335,030.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.