Berry Global Group (NYSE:BERY) Posts Quarterly Earnings Results, Beats Expectations By $0.37 EPS

Berry Global Group (NYSE:BERY) issued its earnings results on Friday. The industrial products company reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.37, MarketWatch Earnings reports. Berry Global Group had a net margin of 3.86% and a return on equity of 28.90%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the firm earned $0.90 EPS. The company’s revenue for the quarter was up 50.2% compared to the same quarter last year.

NYSE:BERY opened at $49.99 on Friday. The stock has a market cap of $6.62 billion, a P/E ratio of 16.18, a PEG ratio of 1.23 and a beta of 1.36. The company has a current ratio of 1.84, a quick ratio of 1.22 and a debt-to-equity ratio of 6.69. The stock has a 50 day simple moving average of $44.86 and a 200 day simple moving average of $41.07. Berry Global Group has a 1-year low of $25.00 and a 1-year high of $49.16.

A number of research firms have issued reports on BERY. Wells Fargo & Co raised their price target on shares of Berry Global Group from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Credit Suisse Group reaffirmed a “buy” rating and set a $62.00 target price on shares of Berry Global Group in a research note on Thursday, May 7th. TheStreet raised shares of Berry Global Group from a “c+” rating to a “b-” rating in a research note on Monday, July 27th. Robert W. Baird reiterated a “buy” rating and set a $60.00 price target on shares of Berry Global Group in a report on Friday, June 12th. Finally, Royal Bank of Canada upped their price target on shares of Berry Global Group from $38.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $50.77.

About Berry Global Group

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, flashing and seaming tapes, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.

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Earnings History for Berry Global Group (NYSE:BERY)

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