Greif (NYSE:GEF) Releases Earnings Results, Beats Expectations By $0.70 EPS

Greif (NYSE:GEFGet Rating) issued its quarterly earnings results on Wednesday. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.70, reports. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.51 billion. Greif had a return on equity of 29.21% and a net margin of 5.60%. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter last year, the company posted $1.13 EPS. Greif updated its FY 2022 guidance to $7.45-$7.75 EPS and its FY22 guidance to $7.45-7.75 EPS.

Greif stock traded up $0.97 during mid-day trading on Friday, reaching $65.57. 1,739 shares of the stock traded hands, compared to its average volume of 199,296. The stock has a market capitalization of $3.19 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 0.94 and a beta of 0.99. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.33 and a quick ratio of 0.95. Greif has a 12-month low of $53.65 and a 12-month high of $72.00. The business’s 50-day moving average is $61.00 and its 200-day moving average is $60.57.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 17th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Thursday, June 16th. Greif’s dividend payout ratio (DPR) is presently 31.19%.

In related news, EVP Bala Sathyanarayanan purchased 450 shares of Greif stock in a transaction on Thursday, April 7th. The stock was acquired at an average price of $58.76 per share, for a total transaction of $26,442.00. Following the completion of the transaction, the executive vice president now directly owns 10,828 shares in the company, valued at approximately $636,253.28. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 2.59% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEF. Squarepoint Ops LLC purchased a new stake in Greif during the 4th quarter valued at approximately $491,000. Cubist Systematic Strategies LLC grew its holdings in Greif by 83.4% during the 4th quarter. Cubist Systematic Strategies LLC now owns 27,032 shares of the industrial products company’s stock valued at $1,632,000 after buying an additional 12,295 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Greif during the 4th quarter valued at approximately $510,000. Marshall Wace LLP bought a new position in shares of Greif during the 4th quarter valued at approximately $1,233,000. Finally, Norges Bank bought a new position in shares of Greif during the 4th quarter valued at approximately $15,988,000. 46.11% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on GEF shares. Zacks Investment Research cut Greif from a “buy” rating to a “sell” rating and set a $65.00 price objective on the stock. in a report on Friday, May 6th. Bank of America upgraded Greif from an “underperform” rating to a “buy” rating and lifted their price target for the company from $74.00 to $77.00 in a research report on Friday, March 25th. BMO Capital Markets lowered Greif from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $71.00 to $52.00 in a research report on Friday, May 27th. Wells Fargo & Company raised Greif from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $65.00 to $71.00 in a report on Tuesday, February 15th. Finally, assumed coverage on Greif in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $64.83.

About Greif (Get Rating)

Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. It operates in three segments: Global Industrial Packaging; Paper Packaging & Services; and Land Management. 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.

Further Reading

Earnings History for Greif (NYSE:GEF)

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