KeyCorp Research Analysts Raise Earnings Estimates for Berry Global Group Inc (BERY)

Berry Global Group Inc (NYSE:BERY) – KeyCorp lifted their FY2019 earnings estimates for shares of Berry Global Group in a research note issued on Wednesday. KeyCorp analyst A. Josephson now anticipates that the industrial products company will post earnings of $3.99 per share for the year, up from their prior forecast of $3.49.

Berry Global Group (NYSE:BERY) last posted its earnings results on Wednesday, February 7th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. Berry Global Group had a net margin of 6.13% and a return on equity of 47.10%. 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 previous year, the business posted $0.50 EPS. The business’s revenue was up 18.2% compared to the same quarter last year.

BERY has been the subject of a number of other reports. Bank of America upped their price objective on shares of Berry Global Group from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Investment Research cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Thursday. BMO Capital Markets upgraded shares of Berry Global Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. SunTrust Banks upped their price objective on shares of Berry Global Group to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, November 21st. Finally, Citigroup upped their price objective on shares of Berry Global Group from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $68.25.

Berry Global Group (NYSE BERY) opened at $54.33 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.72 and a debt-to-equity ratio of 4.69. Berry Global Group has a 12 month low of $47.19 and a 12 month high of $61.71. The stock has a market cap of $7,128.10, a price-to-earnings ratio of 16.27, a P/E/G ratio of 0.73 and a beta of 0.99.

Several institutional investors have recently added to or reduced their stakes in BERY. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Berry Global Group by 17.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,701 shares of the industrial products company’s stock worth $553,000 after buying an additional 1,415 shares in the last quarter. Nomura Holdings Inc. grew its holdings in shares of Berry Global Group by 154.3% during the second quarter. Nomura Holdings Inc. now owns 19,069 shares of the industrial products company’s stock worth $1,090,000 after buying an additional 11,569 shares in the last quarter. Quotient Investors LLC grew its holdings in shares of Berry Global Group by 4.7% during the third quarter. Quotient Investors LLC now owns 22,100 shares of the industrial products company’s stock worth $1,252,000 after buying an additional 1,000 shares in the last quarter. Tributary Capital Management LLC grew its holdings in shares of Berry Global Group by 99.1% during the third quarter. Tributary Capital Management LLC now owns 22,300 shares of the industrial products company’s stock worth $1,263,000 after buying an additional 11,100 shares in the last quarter. Finally, Oakbrook Investments LLC purchased a new stake in shares of Berry Global Group during the third quarter worth $246,000. 94.22% of the stock is owned by institutional investors and hedge funds.

In other news, CFO Mark W. Miles sold 10,000 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $58.54, for a total transaction of $585,400.00. Following the completion of the sale, the chief financial officer now owns 52,916 shares of the company’s stock, valued at $3,097,702.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.00% of the company’s stock.

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Berry Global Group Company Profile

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.

Earnings History and Estimates for Berry Global Group (NYSE:BERY)

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