Greif (NYSE:GEF) Announces Quarterly Earnings Results

Greif (NYSE:GEF) released its quarterly earnings results on Tuesday. The industrial products company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.07, MarketWatch Earnings reports. Greif had a return on equity of 15.78% and a net margin of 2.20%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.26 billion. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 EPS. Greif updated its Q2 2021 guidance to $1.110-1.150 EPS.

NYSE:GEF traded up $1.11 during mid-day trading on Thursday, reaching $61.07. The company’s stock had a trading volume of 1,208 shares, compared to its average volume of 165,323. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.02 and a current ratio of 1.36. The company has a market cap of $2.96 billion, a PE ratio of 36.26, a P/E/G ratio of 1.61 and a beta of 1.08. The stock’s fifty day moving average price is $60.99. Greif has a twelve month low of $31.14 and a twelve month high of $66.03.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Monday, June 21st will be paid 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 2.88%. Greif’s payout ratio is currently 54.66%.

Several equities research analysts recently weighed in on GEF shares. Wells Fargo & Company upped their target price on shares of Greif from $68.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, May 20th. Zacks Investment Research lowered shares of Greif from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Monday, May 31st. BMO Capital Markets lifted their target price on Greif from $53.00 to $64.00 in a research report on Wednesday, March 17th. Finally, KeyCorp upped their price target on shares of Greif from $40.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, April 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $59.40.

In other news, VP Gary R. Martz sold 514 shares of the firm’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $61.55, for a total value of $31,636.70. Following the transaction, the vice president now directly owns 8,100 shares in the company, valued at approximately $498,555. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Gary R. Martz purchased 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 6th. The stock was acquired at an average price of $59.18 per share, for a total transaction of $414,260.00. Following the acquisition, the vice president now directly owns 70,260 shares of the company’s stock, valued at approximately $4,157,986.80. The disclosure for this purchase can be found here. 13.73% of the stock is owned by insiders.

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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Earnings History for Greif (NYSE:GEF)

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