Greif (NYSE:GEF – Get Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $7.90-$8.10 for the period, compared to the consensus EPS estimate of $7.62. The company issued revenue guidance of -.
Greif Stock Down 3.1 %
NYSE GEF traded down $2.04 during trading hours on Friday, hitting $63.87. 695,236 shares of the company were exchanged, compared to its average volume of 262,118. The company has a 50 day moving average of $68.18 and a two-hundred day moving average of $63.56. The company has a quick ratio of 1.05, a current ratio of 1.48 and a debt-to-equity ratio of 1.14. Greif has a 52-week low of $53.65 and a 52-week high of $72.79. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 0.82 and a beta of 0.93.
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Greif (NYSE:GEF – Get Rating) last issued its quarterly earnings results on Wednesday, August 31st. The industrial products company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.35. Greif had a return on equity of 29.00% and a net margin of 5.93%. The company had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the business earned $1.93 EPS. Greif's revenue was up 8.8% on a year-over-year basis. Equities research analysts anticipate that Greif will post 8.01 earnings per share for the current year.
Greif Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 16th will be issued a $0.50 dividend. The ex-dividend date is Thursday, September 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.13%. This is an increase from Greif's previous quarterly dividend of $0.46. Greif's dividend payout ratio is presently 31.40%.
Analyst Ratings Changes
GEF has been the topic of a number of recent analyst reports. BMO Capital Markets upgraded Greif from an underperform rating to a market perform rating and increased their price objective for the company from $52.00 to $70.00 in a report on Monday, September 5th. Stifel Nicolaus initiated coverage on Greif in a report on Friday, September 2nd. They issued a buy rating and a $90.00 price objective on the stock. StockNews.com upgraded Greif from a buy rating to a strong-buy rating in a report on Monday, September 5th. Finally, Wells Fargo & Company downgraded Greif from an overweight rating to an equal weight rating and dropped their price objective for the company from $79.00 to $71.00 in a report on Tuesday, September 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $73.20.
Insider Buying and Selling
In related news, Director Vicki L. Avril-Groves sold 2,400 shares of the firm's stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $69.16, for a total transaction of $165,984.00. Following the transaction, the director now owns 40,246 shares in the company, valued at approximately $2,783,413.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Greif news, Director Vicki L. Avril-Groves sold 2,400 shares of the stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $69.16, for a total transaction of $165,984.00. Following the completion of the sale, the director now directly owns 40,246 shares of the company's stock, valued at approximately $2,783,413.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Patrick Gerard Mullaney sold 500 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $67.65, for a total value of $33,825.00. Following the sale, the senior vice president now directly owns 3,843 shares of the company's stock, valued at $259,978.95. The disclosure for this sale can be found here. Insiders have sold 55,481 shares of company stock worth $3,820,097 in the last quarter. 2.59% of the stock is owned by insiders.
Institutional Trading of Greif
A number of hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd lifted its holdings in shares of Greif by 326.6% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,813 shares of the industrial products company's stock valued at $118,000 after buying an additional 1,388 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Greif in the 1st quarter valued at approximately $419,000. Centiva Capital LP lifted its holdings in shares of Greif by 193.2% in the 2nd quarter. Centiva Capital LP now owns 9,200 shares of the industrial products company's stock valued at $574,000 after buying an additional 6,062 shares during the period. Guggenheim Capital LLC increased its stake in Greif by 19.6% in the 1st quarter. Guggenheim Capital LLC now owns 9,286 shares of the industrial products company's stock valued at $604,000 after purchasing an additional 1,520 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Greif by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,731 shares of the industrial products company's stock valued at $633,000 after purchasing an additional 928 shares in the last quarter. 47.04% of the stock is owned by institutional investors and hedge funds.
Greif Company Profile
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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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