Greif (NYSE:GEF) Issues Earnings Results

Greif (NYSE:GEF) released its quarterly earnings results on Wednesday. The industrial products company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.23), Zacks reports. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Greif had a return on equity of 13.28% and a net margin of 4.99%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.56 earnings per share.

Greif Stock Down 2.2 %

Greif stock opened at $69.95 on Friday. The stock has a market cap of $3.30 billion, a PE ratio of 15.54 and a beta of 0.92. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.70 and a quick ratio of 1.28. The stock’s fifty day moving average is $65.62 and its two-hundred day moving average is $63.02. Greif has a 1-year low of $55.95 and a 1-year high of $73.16.

Greif Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Monday, December 16th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.09%. The ex-dividend date is Monday, December 16th. Greif’s dividend payout ratio (DPR) is presently 46.96%.

Wall Street Analysts Forecast Growth

GEF has been the subject of several research reports. Wells Fargo & Company dropped their target price on Greif from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Truist Financial reaffirmed a “hold” rating and set a $67.00 target price (down from $69.00) on shares of Greif in a research note on Friday, August 30th. Sidoti assumed coverage on shares of Greif in a research report on Wednesday, November 20th. They issued a “buy” rating and a $93.00 price target for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $88.00 price objective on shares of Greif in a research report on Monday, August 26th. Finally, Bank of America decreased their target price on Greif from $77.00 to $73.00 and set a “buy” rating for the company in a report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.40.

Greif Company Profile

Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. The company operates through Global Industrial Packaging; Paper Packaging & Services; and Land Management segments. The Global Industrial Packaging segment produces and sells industrial packaging products, including steel, fiber, and plastic drums; rigid and flexible intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing, and other packaging services to chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral product, and other industries.