Greif (NYSE:GEF – Get Rating) released its quarterly earnings results on Wednesday. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.70, Briefing.com reports. Greif had a return on equity of 29.21% and a net margin of 5.60%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the business posted $1.13 earnings per share. The company’s revenue for the quarter was up 24.4% compared to the same quarter last year. Greif updated its FY 2022 guidance to $7.45-$7.75 EPS and its FY22 guidance to $7.45-7.75 EPS.
Greif stock opened at $64.60 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.33 and a quick ratio of 0.95. The company has a market capitalization of $3.14 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 0.94 and a beta of 0.99. Greif has a one year low of $53.65 and a one year high of $72.00. The business has a 50 day simple moving average of $61.00 and a 200 day simple moving average of $60.57.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 17th will be given a $0.46 dividend. The ex-dividend date is Thursday, June 16th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.85%. Greif’s dividend payout ratio is currently 31.19%.
Several large investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd increased its holdings in shares of Greif by 326.6% in the first quarter. Point72 Hong Kong Ltd now owns 1,813 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 1,388 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Greif in the first quarter valued at approximately $419,000. Squarepoint Ops LLC acquired a new stake in shares of Greif in the fourth quarter valued at approximately $491,000. Cetera Investment Advisers acquired a new stake in shares of Greif in the fourth quarter valued at approximately $510,000. Finally, Guggenheim Capital LLC lifted its holdings in Greif by 19.6% during the 1st quarter. Guggenheim Capital LLC now owns 9,286 shares of the industrial products company’s stock worth $604,000 after purchasing an additional 1,520 shares during the last quarter. Institutional investors and hedge funds own 46.11% of the company’s stock.
GEF has been the subject of several recent analyst reports. StockNews.com initiated coverage on Greif in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Zacks Investment Research lowered Greif from a “buy” rating to a “sell” rating and set a $65.00 price objective for the company. in a report on Friday, May 6th. Wells Fargo & Company upgraded Greif from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $65.00 to $71.00 in a report on Tuesday, February 15th. BMO Capital Markets downgraded Greif from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $71.00 to $52.00 in a report on Friday, May 27th. Finally, Bank of America raised Greif from an “underperform” rating to a “buy” rating and upped their target price for the company from $74.00 to $77.00 in a report on Friday, March 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $64.83.
Greif Company Profile (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.
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