Greif (NYSE:GEF) Releases FY22 Earnings Guidance

Greif (NYSE:GEFGet Rating) updated its FY22 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $7.45-7.75 for the period, compared to the consensus estimate of $6.61. Greif also updated its FY 2022 guidance to $7.45-$7.75 EPS.

NYSE:GEF traded down $1.41 on Wednesday, hitting $60.91. 192,342 shares of the stock were exchanged, compared to its average volume of 205,676. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 9.64, a P/E/G ratio of 0.95 and a beta of 0.99. Greif has a 52 week low of $53.65 and a 52 week high of $72.00. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.95 and a current ratio of 1.33. The company’s 50-day moving average price is $61.01 and its 200 day moving average price is $60.61.

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 issued a dividend of $0.46 per share. The ex-dividend date is Thursday, June 16th. This represents a $1.84 annualized dividend and a yield of 3.02%. Greif’s dividend payout ratio is currently 29.11%.

Several equities analysts have recently issued reports on GEF shares. StockNews.com initiated coverage on Greif in a research report on Thursday, March 31st. They set a buy rating for the company. BMO Capital Markets downgraded Greif from an outperform rating to a market perform rating and reduced their price target for the stock from $71.00 to $52.00 in a research report on Friday, May 27th. Bank of America upgraded Greif from an underperform rating to a buy rating and upped their price objective for the stock from $74.00 to $77.00 in a research note on Friday, March 25th. Zacks Investment Research cut Greif from a buy rating to a sell rating and set a $65.00 price objective on the stock. in a research report on Friday, May 6th. Finally, Wells Fargo & Company raised Greif from an equal weight rating to an overweight rating and increased their target price for the stock from $65.00 to $71.00 in a report on Tuesday, February 15th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $64.83.

In other Greif news, EVP Bala Sathyanarayanan purchased 450 shares of Greif stock in a transaction dated Thursday, April 7th. The shares were acquired at an average cost of $58.76 per share, with a total value of $26,442.00. Following the completion of the transaction, the executive vice president now owns 10,828 shares in the company, valued at approximately $636,253.28. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.59% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd increased its stake in Greif by 326.6% in the first quarter. Point72 Hong Kong Ltd now owns 1,813 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 1,388 shares during the period. Quantbot Technologies LP acquired a new position in Greif in the first quarter valued at $419,000. Squarepoint Ops LLC acquired a new position in Greif in the fourth quarter valued at $491,000. Cetera Investment Advisers acquired a new position in Greif in the fourth quarter valued at $510,000. Finally, Guggenheim Capital LLC increased its stake in Greif by 19.6% in the first 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 during the period. 46.11% of the stock is owned by institutional investors and hedge funds.

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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