According to Zacks, “Greif updated adjusted earnings per share guidance for fiscal 2019 at $3.60-$4.00. The mid-point of the guidance reflects year-over-year growth of 8%. The outlook has been updated to include the impact of the acquired Caraustar business. However, high debt following the acquisition remains a concern. Further, lower volume expectations for the Rigid Industrial Packaging & Services will impact results in fiscal 2019.”
Other equities analysts also recently issued research reports about the stock. KeyCorp restated a sell rating and issued a $31.00 price target on shares of Greif in a research note on Thursday, February 28th. Bank of America set a $38.00 price target on shares of Greif and gave the stock a sell rating in a research note on Thursday, March 7th. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Greif presently has an average rating of Sell and an average target price of $40.38.
Greif (NYSE:GEF) last posted its quarterly earnings results on Wednesday, February 27th. The industrial products company reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The business had revenue of $897.00 million during the quarter, compared to the consensus estimate of $922.24 million. Greif had a net margin of 4.72% and a return on equity of 18.89%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 earnings per share. On average, sell-side analysts anticipate that Greif will post 3.67 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC purchased a new stake in shares of Greif during the 4th quarter worth $26,000. Advisor Group Inc. lifted its position in shares of Greif by 1,825.9% during the 1st quarter. Advisor Group Inc. now owns 1,637 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 1,552 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Greif during the 4th quarter worth $80,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Greif during the 1st quarter worth $84,000. Finally, Quantamental Technologies LLC purchased a new stake in shares of Greif during the 1st quarter worth $122,000. 50.45% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading: Debt-To-Equity Ratio
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