Greif (NYSE:GEF) announced its quarterly earnings results on Tuesday. The industrial products company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.07, MarketWatch Earnings reports. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Greif had a net margin of 2.20% and a return on equity of 15.78%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 earnings per share. Greif updated its Q2 2021 guidance to $1.110-1.150 EPS.
Shares of Greif stock traded up $1.77 during midday trading on Thursday, reaching $61.73. The company had a trading volume of 1,925 shares, compared to its average volume of 165,323. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 1.87. The firm has a market cap of $3.00 billion, a P/E ratio of 36.82, a price-to-earnings-growth ratio of 1.61 and a beta of 1.08. The company’s fifty day moving average is $60.99. Greif has a 1-year low of $31.14 and a 1-year high of $66.03.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Monday, June 21st will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, June 18th. Greif’s dividend payout ratio is currently 54.66%.
Several research firms have recently weighed in on GEF. KeyCorp raised their price objective on shares of Greif from $40.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, April 5th. Wells Fargo & Company raised their price objective on shares of Greif from $68.00 to $77.00 and gave the stock an “overweight” rating in a report 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 objective for the company. in a report on Monday, May 31st. Finally, BMO Capital Markets raised their price objective on shares of Greif from $53.00 to $64.00 in a report on Wednesday, March 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Greif has an average rating of “Hold” and a consensus target price of $59.40.
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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