Greif (NYSE:GEF) Issues FY 2022 Earnings Guidance

Greif (NYSE:GEFGet 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 recently issued reports on GEF. BMO Capital Markets lowered shares of Greif from an outperform rating to a market perform rating and decreased their price target for the company from $71.00 to $52.00 in a report on Friday, May 27th. StockNews.com initiated coverage on shares of Greif in a research note on Thursday, March 31st. They issued a buy rating for the company. Bank of America raised shares of Greif from an underperform rating to a buy rating and upped their target price for the stock from $74.00 to $77.00 in a research note on Friday, March 25th. Finally, Wells Fargo & Company upped their target price on shares of Greif from $71.00 to $73.00 and gave the stock an overweight rating in a research note on Monday. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Greif has an average rating of Hold and a consensus price target of $65.00.

Shares of NYSE:GEF opened at $60.13 on Wednesday. The company’s 50 day moving average price is $60.98 and its two-hundred day moving average price is $60.36. Greif has a 12-month low of $53.65 and a 12-month high of $72.00. The firm has a market cap of $2.92 billion, a PE ratio of 10.19, a PEG ratio of 0.85 and a beta of 0.99. The company has a quick ratio of 1.02, a current ratio of 1.44 and a debt-to-equity ratio of 1.16.

Greif (NYSE:GEFGet Rating) last announced its earnings results on Wednesday, June 8th. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.70. Greif had a net margin of 5.60% and a return on equity of 28.42%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the business posted $1.13 EPS. The business’s revenue was up 24.4% compared to the same quarter last year. On average, research analysts expect that Greif will post 7.6 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 17th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, June 16th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.06%. Greif’s payout ratio is presently 31.19%.

In other news, EVP Bala Sathyanarayanan purchased 450 shares of Greif stock in a transaction that occurred on Thursday, April 7th. The shares were acquired at an average price of $58.76 per share, for a total transaction of $26,442.00. Following the transaction, the executive vice president now owns 10,828 shares of the company’s stock, valued at approximately $636,253.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.59% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd raised its stake in shares of Greif by 326.6% during the first quarter. Point72 Hong Kong Ltd now owns 1,813 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 1,388 shares during the last quarter. Quantbot Technologies LP bought a new position in Greif during the first quarter worth $419,000. Evergreen Capital Management LLC raised its stake in Greif by 7.6% during the first quarter. Evergreen Capital Management LLC now owns 109,107 shares of the industrial products company’s stock worth $7,099,000 after buying an additional 7,730 shares during the last quarter. Guggenheim Capital LLC raised its stake in Greif by 19.6% during the first quarter. Guggenheim Capital LLC now owns 9,286 shares of the industrial products company’s stock worth $604,000 after buying an additional 1,520 shares during the last quarter. Finally, PDT Partners LLC raised its stake in Greif by 68.1% during the first quarter. PDT Partners LLC now owns 10,345 shares of the industrial products company’s stock worth $673,000 after buying an additional 4,192 shares during 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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