Greif (NYSE: GEF) Issues FY 2022 Earnings Guidance

Greif (NYSE: GEF – Get Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided EPS guidance of $ 7.45- $ 7.75 for the period, compared to the consensus EPS estimate of $ 6.61. The company issued revenue guidance of -.

Several brokerages have commented on GEF. StockNews.com began coverage on shares of Greif in a research note on Thursday, March 31st. They set a buy rating for the company. Bank of America raised shares of Greif from an underperform rating to a buy rating and lifted their target price for the company from $ 74.00 to $ 77.00 in a report on Friday, March 25th. BMO Capital Markets lowered shares of Greif from an outperform rating to a market perform rating and cut their target price for the company from $ 71.00 to $ 52.00 in a report on Friday, May 27th. Finally, Wells Fargo & Company lifted their target price on shares of Greif from $ 71.00 to $ 73.00 and gave the company an overweight rating in a report on Monday, June 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Greif presently has a consensus rating of Hold and an average target price of $ 65.00.

NYSE: GEF opened at $ 59.66 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.44 and a quick ratio of 1.02. The firm has a market cap of $ 2.90 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 0.76 and a beta of 0.99. The company has a 50-day moving average price of $ 60.77 and a 200-day moving average price of $ 60.25. Greif has a 1-year low of $ 53.65 and a 1-year high of $ 72.00.

Greif (NYSE: GEF – Get Rating) last issued its quarterly earnings results on Wednesday, June 8th. The industrial products company reported $ 2.41 EPS for the quarter, topping the consensus estimate of $ 1.71 by $ 0.70. The company had revenue of $ 1.67 billion during the quarter, compared to analyst estimates of $ 1.51 billion. Greif had a net margin of 5.60% and a return on equity of 28.42%. The firm’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $ 1.13 EPS. On average, sell-side analysts anticipate that Greif will post 7.63 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 17th will be issued a $ 0.46 dividend. This represents a $ 1.84 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Thursday, June 16th. Greif’s payout ratio is presently 31.19%.

In related news, EVP Bala Sathyanarayanan purchased 450 shares of the business’s stock in a transaction that occurred on Thursday, April 7th. The stock was bought at an average price of $ 58.76 per share, with a total value of $ 26,442.00. Following the acquisition, the executive vice president now owns 10,828 shares in the company, valued at $ 636,253.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.59% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Yousif Capital Management LLC grew its holdings in shares of Greif by 1.9% during the first quarter. Yousif Capital Management LLC now owns 13,901 shares of the company’s industrial products stock worth $ 904,000 after buying an additional 260 shares in the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of Greif by 4.6% during the first quarter. Ontario Teachers Pension Plan Board now owns 16,111 shares of the company’s industrial products stock worth $ 1,048,000 after buying an additional 705 shares in the last quarter. The Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Greif by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,731 shares of the company’s industrial products stock worth $ 633,000 after buying an additional 928 shares in the last quarter. Point72 Hong Kong Ltd grew its holdings in shares of Greif by 326.6% during the first quarter. Point72 Hong Kong Ltd now owns 1,813 shares of the company’s industrial products stock worth $ 118,000 after buying an additional 1,388 shares in the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of Greif by 19.6% during the first quarter. Guggenheim Capital LLC now owns 9,286 shares of the company’s industrial products stock worth $ 604,000 after buying an additional 1,520 shares in the last quarter. 46.11% of the stock is owned by institutional investors and hedge funds.

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.

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