Berry Plastics Group Inc (BERY) reported quarterly earnings results on Tuesday, May-10-2016. The company said it had a profit of $0.58 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $0.49. The company posted revenue of $1614.00 million in the period, compared to analysts expectations of $1652.97 million. The company’s revenue was up 31.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.
Many Wall Street Analysts have commented on Berry Plastics Group Inc. RBC Capital Mkts Initiated Berry Plastics Group Inc on Feb 19, 2016 to “Outperform”, Price Target of the shares are set at $38.
Berry Plastics Group Inc opened for trading at $35.81 and hit $36.33 on the upside on Friday, eventually ending the session at $36.26, with a gain of 1.09% or 0.39 points. The heightened volatility saw the trading volume jump to 21,76,417 shares. Company has a market cap of $4,369 M.
In a different news, on Mar 18, 2016, Jonathan D Rich (Chief Executive Officer) sold 62,500 shares at $33.89 per share price. According to the SEC, on Nov 20, 2015, Mark W Miles (Chief Financial Officer) sold 10,000 shares at $36.04 per share price. On Nov 19, 2015, Jason K. Greene (EVP – General Counsel) sold 7,810 shares at $36.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Berry Plastics Group Inc. is engaged in providing plastic consumer packaging and engineered materials. The Companys products include drink cups thin-wall containers bottles specialty closures prescription vials specialty films adhesives and corrosion protection materials. The Company operates in four operating segments: Rigid Open Top and Rigid Closed Top which sells primarily containers foodservice items closures overcaps bottles prescription containers and tubes; Engineered Materials which sells pipeline corrosion protection solutions tapes and adhesives PE (polyethylene)-based film products and can liners; and Flexible Packaging which sells high barrier multilayer film products as well as finished flexible packages such as printed bags and pouches. The Company sells its solutions into consumer-oriented end-markets such as food and beverage healthcare and personal care.