Berry Global Group (NYSE:BERY) Releases FY24 Earnings Guidance

Berry Global Group (NYSE:BERYGet Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $7.35 to $7.85 for the period, compared to the consensus estimate of $7.48. Berry Global Group also updated its FY 2024 guidance to 7.350-7.850 EPS.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Royal Bank of Canada restated a sector perform rating and issued a $62.00 price target (down from $72.00) on shares of Berry Global Group in a research report on Friday, March 15th. TheStreet lowered Berry Global Group from a b- rating to a c+ rating in a report on Monday, February 26th. Truist Financial reiterated a hold rating and set a $68.00 price target (down previously from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. Mizuho reduced their target price on shares of Berry Global Group from $74.00 to $65.00 and set a neutral rating for the company in a research note on Thursday, February 8th. Finally, Robert W. Baird reaffirmed a neutral rating and set a $65.00 price target (down from $68.00) on shares of Berry Global Group in a research report on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $72.60.

Read Our Latest Stock Analysis on Berry Global Group

Berry Global Group Price Performance

BERY stock traded up $0.12 during mid-day trading on Friday, reaching $59.89. The company’s stock had a trading volume of 1,244,940 shares, compared to its average volume of 934,963. The company’s 50 day moving average is $58.79 and its two-hundred day moving average is $61.61. Berry Global Group has a fifty-two week low of $53.92 and a fifty-two week high of $69.93. The company has a current ratio of 0.37, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62. The stock has a market cap of $6.94 billion, a PE ratio of 14.23, a P/E/G ratio of 0.81 and a beta of 1.24.

Berry Global Group (NYSE:BERYGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The industrial products company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.05. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the company earned $1.96 earnings per share. Equities research analysts expect that Berry Global Group will post 7.42 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.84%. The ex-dividend date is Friday, May 31st. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

Insider Activity

In related news, Director Jonathan F. Foster bought 1,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average price of $58.49 per share, for a total transaction of $58,490.00. Following the purchase, the director now owns 5,728 shares in the company, valued at approximately $335,030.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.00% of the company’s stock.

Berry Global Group Company Profile

(Get Free Report)

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.

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

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