Berry Global Group (NYSE:BERY) Share price down 5% on disappointing earnings

Berry Global Group, Inc. (NYSE:BERY) traded 5% lower in Friday’s session after the company reported weaker-than-expected quarterly results. The company traded as low as $60.24 and last traded at $60.31. 21,094 shares changed hands during the midday session, down 97% from the average session volume of 791,107 shares. The stock had previously closed at $63.48. The industrial products company reported EPS of $1.25 for the quarter, missing Zacks’ consensus estimate of $1.38 per ($0.13). Berry Global Group achieved a return on equity of 30.09% and a net margin of 5.29%. The company posted revenue of $3.57 billion in the quarter, versus $3.43 billion expected by analysts. During the same period of the previous year, the company achieved EPS of $1.12. Berry Global Group’s quarterly revenue increased 13.9% year over year.

BERY has been the subject of several recent analyst reports. Morgan Stanley raised its price target on Berry Global Group shares from $71.00 to $79.00 and gave the company an “equal weight” rating in a Thursday, Jan. 20, report. Raymond James launched a hedge on the shares of Berry Global Group in a report on Wednesday, November 24. They set a “market performance” rating for the company. Mizuho began covering Berry Global Group shares in a report on Tuesday, October 12. They set a “neutral” rating and a price target of $70.00 for the company. Seaport Res Ptn reiterated a “buy” rating on Berry Global Group shares in a Wednesday, October 20 report. Finally, Citigroup raised its price target on Berry Global Group shares from $89.00 to $96.00 in a report on Tuesday, January 4. Five research analysts gave the stock a hold rating and nine gave the stock a buy rating. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $80.23.

(A d)

There are not many days left on the calendar…and yet the global semiconductor market has reached $466.2 billion – despite the pandemic.

Even better, the chip shortage has created huge opportunities for recurring hits.

These four tech companies are well positioned to take advantage of this rapidly growing demand.

Separately, Chairman Curt Begle sold 14,000 shares in a trade that took place on Wednesday, December 29. The shares were sold at an average price of $73.99, for a total value of $1,035,860.00. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. 2.70% of the shares are currently held by insiders.

Major investors have recently changed their stake in the company. Van ECK Associates Corp bought a new position in shares of Berry Global Group in the 4th quarter for a value of around $26,000. Counterpoint Mutual Funds LLC acquired a new stake in Berry Global Group during Q4 for a value of approximately $27,000. Dark Forest Capital Management LP acquired a new stake in Berry Global Group during Q3, valued at approximately $29,000. Koshinski Asset Management Inc. acquired a new stake in Berry Global Group during Q4, valued at approximately $39,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Berry Global Group by 85.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,040 shares of the industrial products company valued at $68,000 after buying 479 additional shares last quarter. Hedge funds and other institutional investors hold 94.64% of the company’s shares.

The company has a debt ratio of 2.97, a quick ratio of 1.00 and a current ratio of 1.60. The company’s 50-day simple moving average is $70.57 and its 200-day simple moving average is $66.80. The company has a market capitalization of $8.16 billion, a PE ratio of 11.93, a growth price-earnings ratio of 0.91 and a beta of 1.32.

About Berry Global Group (NYSE: BERY)

Berry Global Group, Inc. is committed to providing value-added engineered materials, specialty non-woven materials and consumer packaging with customized solutions. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials and Health, Hygiene & Specialties.

Read more: What is a candlestick chart?

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Berry Global Group right now?

Before you consider Berry Global Group, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and Berry Global Group was not on the list.

Although Berry Global Group currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

Comments are closed.