Greif, Inc. (GEF) Expected to Post Earnings of $1.18 Per Share

Brokerages expect Greif, Inc. (NYSE:GEF) to report $1.18 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have provided estimates for Greif’s earnings. The lowest EPS estimate is $1.14 and the highest is $1.22. Greif posted earnings of $0.98 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 20.4%. The business is expected to issue its next earnings report after the market closes on Wednesday, December 5th.

According to Zacks, analysts expect that Greif will report full-year earnings of $3.63 per share for the current fiscal year, with EPS estimates ranging from $3.60 to $3.67. For the next fiscal year, analysts expect that the firm will post earnings of $3.89 per share, with EPS estimates ranging from $3.36 to $4.15. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Greif.

Greif (NYSE:GEF) last issued its quarterly earnings data on Wednesday, August 29th. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.12. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.04 billion. Greif had a net margin of 5.26% and a return on equity of 18.10%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 EPS.

A number of research analysts have issued reports on GEF shares. KeyCorp reissued a “sell” rating and set a $50.00 price objective on shares of Greif in a research report on Thursday, August 30th. Zacks Investment Research cut shares of Greif from a “hold” rating to a “sell” rating in a report on Monday, November 19th. Finally, Wells Fargo & Co set a $65.00 target price on shares of Greif and gave the company a “buy” rating in a report on Thursday, October 18th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Greif currently has a consensus rating of “Hold” and an average price target of $62.43.

Several hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd lifted its stake in Greif by 191.1% during the 3rd quarter. Point72 Hong Kong Ltd now owns 2,000 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 1,313 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Greif during the 2nd quarter valued at about $162,000. Vident Investment Advisory LLC purchased a new stake in shares of Greif during the 3rd quarter valued at about $241,000. Commonwealth Bank of Australia purchased a new stake in shares of Greif during the 3rd quarter valued at about $241,000. Finally, Acadian Asset Management LLC increased its position in shares of Greif by 2,472.1% during the 2nd quarter. Acadian Asset Management LLC now owns 4,887 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 4,697 shares during the last quarter. Hedge funds and other institutional investors own 47.83% of the company’s stock.

Greif stock traded up $0.60 during mid-day trading on Friday, reaching $50.64. 4,440 shares of the company traded hands, compared to its average volume of 104,297. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.88. The company has a market cap of $2.40 billion, a P/E ratio of 17.17, a PEG ratio of 1.49 and a beta of 1.28. Greif has a 52-week low of $44.66 and a 52-week high of $65.60.

About Greif

Greif, Inc produces and sells industrial packaging products and services worldwide. It operates in 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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