Berry Global Group (NYSE:BERY) released its earnings results on Wednesday. The industrial products company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02, Bloomberg Earnings reports. Berry Global Group had a return on equity of 58.69% and a net margin of 4.79%. The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis.
Shares of Berry Global Group (NYSE BERY) traded down $2.00 on Wednesday, hitting $55.07. The stock had a trading volume of 1,180,000 shares, compared to its average volume of 829,306. Berry Global Group has a one year low of $47.19 and a one year high of $61.71. The company has a market cap of $7,210.00, a PE ratio of 21.68, a price-to-earnings-growth ratio of 0.81 and a beta of 0.99. The company has a quick ratio of 1.10, a current ratio of 1.77 and a debt-to-equity ratio of 5.53.
In other news, CFO Mark W. Miles sold 10,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $58.54, for a total value of $585,400.00. Following the completion of the transaction, the chief financial officer now directly owns 52,916 shares in the company, valued at approximately $3,097,702.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.
Several research firms have weighed in on BERY. Zacks Investment Research upgraded Berry Global Group from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Tuesday. BMO Capital Markets upgraded Berry Global Group from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 24th. SunTrust Banks upped their target price on Berry Global Group to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, November 21st. Citigroup upped their target price on Berry Global Group from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. Finally, Royal Bank of Canada upped their target price on Berry Global Group from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $67.73.
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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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