Wall Street brokerages expect Greif, Inc. (NYSE:GEF) to announce earnings of $1.13 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Greif’s earnings, with estimates ranging from $1.12 to $1.14. Greif reported earnings per share of $0.85 during the same quarter last year, which would suggest a positive year-over-year growth rate of 32.9%. The business is scheduled to issue its next earnings report on Wednesday, August 25th.
On average, analysts expect that Greif will report full year earnings of $3.67 per share for the current year, with EPS estimates ranging from $3.63 to $3.70. For the next year, analysts anticipate that the company will report earnings of $4.11 per share, with EPS estimates ranging from $3.48 to $4.50. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Greif.
Greif (NYSE:GEF) last announced its quarterly earnings data on Tuesday, June 8th. The industrial products company reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.07. Greif had a return on equity of 15.78% and a net margin of 2.20%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm earned $0.95 EPS. Greif’s revenue for the quarter was up 15.7% compared to the same quarter last year.
Several analysts have recently weighed in on GEF shares. Zacks Investment Research lowered Greif from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a report on Monday, May 31st. BMO Capital Markets lifted their price objective on Greif from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company boosted their price target on Greif from $68.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, May 20th. KeyCorp boosted their price target on Greif from $40.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, April 5th. Finally, Robert W. Baird boosted their price target on Greif from $60.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Greif has an average rating of “Hold” and an average price target of $61.17.
Shares of NYSE:GEF opened at $64.16 on Wednesday. Greif has a 1-year low of $31.14 and a 1-year high of $66.03. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 1.61 and a beta of 1.08. The stock’s 50 day moving average price is $61.21. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.36 and a quick ratio of 1.02.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Monday, June 21st will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, June 18th. This represents a $1.76 annualized dividend and a yield of 2.74%. Greif’s payout ratio is 54.66%.
In other Greif news, VP Gary R. Martz acquired 7,000 shares of the business’s stock in a transaction on Tuesday, April 6th. The stock was purchased at an average price of $59.18 per share, for a total transaction of $414,260.00. Following the transaction, the vice president now owns 70,260 shares in the company, valued at approximately $4,157,986.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Gary R. Martz sold 514 shares of Greif stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $61.55, for a total value of $31,636.70. Following the completion of the transaction, the vice president now owns 8,100 shares of the company’s stock, valued at approximately $498,555. The disclosure for this sale can be found here. Insiders own 13.73% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in GEF. The PNC Financial Services Group Inc. raised its position in shares of Greif by 8.4% during the first quarter. The PNC Financial Services Group Inc. now owns 2,556 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 199 shares during the last quarter. Carret Asset Management LLC bought a new stake in shares of Greif during the fourth quarter worth $202,000. Zeke Capital Advisors LLC bought a new stake in shares of Greif during the first quarter worth $210,000. Stifel Financial Corp bought a new stake in shares of Greif during the first quarter worth $219,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Greif during the first quarter worth $237,000. Institutional investors own 47.06% of the company’s stock.
Greif Company Profile
Greif, Inc produces and sells industrial packaging products and services worldwide. It operates through four segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management. The Rigid Industrial Packaging & Services segment offers rigid industrial packaging products, including steel, fiber, and plastic drums; rigid intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and services, such as container life cycle management, filling, logistics, warehousing, and other packaging services.
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