Analysts expect that Berry Global Group Inc (NYSE:BERY) will report $1.79 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Berry Global Group’s earnings, with the highest sales estimate coming in at $1.83 billion and the lowest estimate coming in at $1.76 billion. Berry Global Group posted sales of $1.50 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.3%. The company is scheduled to report its next earnings report on Friday, February 2nd.

On average, analysts expect that Berry Global Group will report full-year sales of $1.79 billion for the current financial year, with estimates ranging from $7.37 billion to $7.96 billion. For the next fiscal year, analysts forecast that the firm will report sales of $7.71 billion per share, with estimates ranging from $7.30 billion to $8.16 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Berry Global Group.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Thursday, November 16th. The industrial products company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.08. Berry Global Group had a net margin of 4.79% and a return on equity of 58.69%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the business earned $0.61 earnings per share. The firm’s revenue was up 16.3% on a year-over-year basis.

Several brokerages have recently issued reports on BERY. Royal Bank of Canada lifted their target price on shares of Berry Global Group from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, November 20th. BMO Capital Markets lifted their target price on shares of Berry Global Group from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Monday, November 20th. SunTrust Banks lifted their target price on shares of Berry Global Group to $69.00 and gave the company a “buy” rating in a research report on Tuesday, November 21st. BidaskClub upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. Finally, Citigroup lifted their target price on shares of Berry Global Group from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, November 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. Berry Global Group presently has an average rating of “Buy” and a consensus price target of $67.82.

In other news, CFO Mark W. Miles sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $58.54, for a total value of $585,400.00. Following the transaction, the chief financial officer now directly 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 SEC, which is accessible through this link. Also, President Curt Begle sold 5,440 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $60.03, for a total transaction of $326,563.20. Following the completion of the transaction, the president now directly owns 5,440 shares in the company, valued at $326,563.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,837 shares of company stock worth $1,296,039. Insiders own 3.11% of the company’s stock.

Hedge funds have recently modified their holdings of the business. 361 Capital LLC purchased a new position in Berry Global Group during the third quarter worth about $857,000. Atlantic Trust Group LLC raised its stake in Berry Global Group by 184.5% during the third quarter. Atlantic Trust Group LLC now owns 861,120 shares of the industrial products company’s stock worth $48,784,000 after purchasing an additional 558,411 shares during the period. Victory Capital Management Inc. raised its stake in Berry Global Group by 119.5% during the third quarter. Victory Capital Management Inc. now owns 322,350 shares of the industrial products company’s stock worth $18,261,000 after purchasing an additional 175,522 shares during the period. Syntal Capital Partners LLC raised its stake in Berry Global Group by 11.7% during the third quarter. Syntal Capital Partners LLC now owns 12,772 shares of the industrial products company’s stock worth $723,000 after purchasing an additional 1,337 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in 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 purchasing an additional 1,415 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Shares of Berry Global Group (NYSE BERY) traded down $0.02 during midday trading on Friday, hitting $58.93. 584,000 shares of the stock traded hands, compared to its average volume of 723,550. Berry Global Group has a 1-year low of $47.19 and a 1-year high of $61.71. The firm has a market capitalization of $7,720.00, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 0.85 and a beta of 1.08. The company has a current ratio of 1.77, a quick ratio of 1.10 and a debt-to-equity ratio of 5.53.

TRADEMARK VIOLATION NOTICE: This news story was posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.dailypolitical.com/2018/01/19/analysts-expect-berry-global-group-inc-bery-will-post-quarterly-sales-of-1-79-billion.html.

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.

Get a free copy of the Zacks research report on Berry Global Group (BERY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Berry Global Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berry Global Group and related companies with MarketBeat.com's FREE daily email newsletter.