Zacks: Brokerages Anticipate BPC Acquisition Corp (BERY) to Post $0.78 Earnings Per Share
Brokerages expect that BPC Acquisition Corp (NYSE:BERY) will report earnings of $0.78 per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for BPC Acquisition Corp’s earnings, with the highest EPS estimate coming in at $0.84 and the lowest estimate coming in at $0.71. BPC Acquisition Corp posted earnings per share of $0.73 in the same quarter last year, which suggests a positive year-over-year growth rate of 6.8%. The company is scheduled to report its next earnings results on Tuesday, December 5th.
According to Zacks, analysts expect that BPC Acquisition Corp will report full year earnings of $2.97 per share for the current year, with EPS estimates ranging from $2.80 to $3.06. For the next year, analysts expect that the firm will report earnings of $3.33 per share, with EPS estimates ranging from $3.21 to $3.59. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for BPC Acquisition Corp.
BPC Acquisition Corp (NYSE:BERY) last announced its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.10. BPC Acquisition Corp had a net margin of 4.49% and a return on equity of 99.21%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the business earned $0.82 EPS. BPC Acquisition Corp’s revenue for the quarter was up 15.9% compared to the same quarter last year.
A number of research analysts have commented on the stock. BidaskClub downgraded shares of BPC Acquisition Corp from a “sell” rating to a “strong sell” rating in a research note on Wednesday. UBS AG assumed coverage on shares of BPC Acquisition Corp in a research note on Tuesday, July 25th. They set a “buy” rating and a $67.00 price objective on the stock. Royal Bank Of Canada reiterated a “buy” rating and set a $63.00 price objective on shares of BPC Acquisition Corp in a research note on Monday, May 15th. Jefferies Group LLC reiterated a “buy” rating and set a $67.00 price objective (up from $63.00) on shares of BPC Acquisition Corp in a research note on Friday, July 14th. Finally, ValuEngine raised shares of BPC Acquisition Corp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $62.10.
In related news, Director Carl J. Rickertsen sold 29,500 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $56.35, for a total value of $1,662,325.00. Following the sale, the director now owns 15,119 shares of the company’s stock, valued at approximately $851,955.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Curt Begle sold 18,000 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $57.02, for a total transaction of $1,026,360.00. Following the completion of the sale, the president now directly owns 1,899 shares in the company, valued at approximately $108,280.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,000 shares of company stock worth $3,587,375. Corporate insiders own 3.11% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp purchased a new stake in BPC Acquisition Corp during the first quarter worth $686,000. Schwab Charles Investment Management Inc. boosted its stake in BPC Acquisition Corp by 17.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,269,984 shares of the industrial products company’s stock worth $61,684,000 after buying an additional 185,508 shares during the period. Westpac Banking Corp boosted its stake in BPC Acquisition Corp by 2.2% in the first quarter. Westpac Banking Corp now owns 6,633 shares of the industrial products company’s stock worth $322,000 after buying an additional 142 shares during the period. Bluestein R H & Co. boosted its stake in BPC Acquisition Corp by 36.2% in the first quarter. Bluestein R H & Co. now owns 7,400 shares of the industrial products company’s stock worth $359,000 after buying an additional 1,965 shares during the period. Finally, BlackRock Inc. boosted its stake in BPC Acquisition Corp by 20,404.9% in the first quarter. BlackRock Inc. now owns 5,099,577 shares of the industrial products company’s stock worth $247,685,000 after buying an additional 5,074,707 shares during the period. 99.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of BPC Acquisition Corp (BERY) traded down 0.40% during midday trading on Friday, reaching $57.42. 1,078,897 shares of the company traded hands. BPC Acquisition Corp has a 12 month low of $39.45 and a 12 month high of $58.95. The firm has a market capitalization of $7.44 billion, a P/E ratio of 24.91 and a beta of 1.08. The company has a 50 day moving average of $57.39 and a 200 day moving average of $53.19.
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About BPC Acquisition Corp
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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