Equities research analysts expect Greif, Inc. (NYSE:GEF) to announce sales of $1.20 billion for the current quarter, according to Zacks. Two analysts have provided estimates for Greif's earnings. The highest sales estimate is $1.23 billion and the lowest is $1.17 billion. Greif posted sales of $1.08 billion in the same quarter last year, which suggests a positive year over year growth rate of 11.1%. The business is expected to issue its next quarterly earnings results on Wednesday, August 25th.
On average, analysts expect that Greif will report full year sales of $0.00 for the current financial year. For the next financial year, analysts anticipate that the firm will report sales of $5.01 billion. Zacks' sales averages are an average based on a survey of analysts that cover Greif.
Greif (NYSE:GEF) last announced its quarterly earnings results on Tuesday, June 8th. The industrial products company reported $1.13 EPS for the quarter, beating the Zacks' consensus estimate of $1.06 by $0.07. Greif had a net margin of 2.20% and a return on equity of 15.78%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business earned $0.95 EPS. Greif's quarterly revenue was up 15.7% on a year-over-year basis.
GEF has been the subject of a number of recent research reports. KeyCorp boosted their price objective on shares of Greif from $40.00 to $45.00 and gave the company an "underweight" rating in a report on Monday, April 5th. BMO Capital Markets upped their price target on shares of Greif from $53.00 to $64.00 in a report on Wednesday, March 17th. Wells Fargo & Company upped their price target on shares of Greif from $68.00 to $77.00 and gave the stock an "overweight" rating in a report on Thursday, May 20th. Finally, Zacks Investment Research downgraded shares of Greif from a "buy" rating to a "hold" rating and set a $65.00 price target for the company. in a report on Monday, May 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company has an average rating of "Hold" and an average price target of $59.40.
In related news, VP Gary R. Martz sold 514 shares of the company's stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $61.55, for a total transaction of $31,636.70. Following the completion of 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 filing with the SEC, which is available through the SEC website. Also, VP Gary R. Martz acquired 7,000 shares of the stock in a transaction that occurred on Tuesday, April 6th. The shares were bought at an average price of $59.18 per share, with a total value of $414,260.00. Following the completion of the transaction, the vice president now owns 70,260 shares in the company, valued at $4,157,986.80. The disclosure for this purchase can be found here. 13.73% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Denali Advisors LLC increased its position in Greif by 18.0% in the 1st quarter. Denali Advisors LLC now owns 91,094 shares of the industrial products company's stock valued at $5,192,000 after acquiring an additional 13,907 shares during the period. Brandywine Global Investment Management LLC increased its position in Greif by 16.4% in the 4th quarter. Brandywine Global Investment Management LLC now owns 133,251 shares of the industrial products company's stock valued at $6,247,000 after acquiring an additional 18,788 shares during the period. Bailard Inc. acquired a new position in Greif in the 4th quarter valued at approximately $525,000. Washington Capital Management Inc. acquired a new position in Greif in the 1st quarter valued at approximately $365,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Greif in the 4th quarter valued at approximately $435,000. Hedge funds and other institutional investors own 47.06% of the company's stock.
NYSE GEF opened at $61.92 on Friday. 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 company has a market cap of $3.01 billion, a P/E ratio of 36.86, a P/E/G ratio of 1.61 and a beta of 1.08. Greif has a 12-month low of $31.14 and a 12-month high of $66.03. The firm has a 50-day simple moving average of $61.08.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Monday, June 21st will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, June 18th. Greif's dividend payout ratio (DPR) is presently 54.66%.
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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