KeyCorp Research Analysts Increase Earnings Estimates for Greif, Inc. (NYSE:GEF)

Greif, Inc. (NYSE:GEFGet Rating) – Analysts at KeyCorp raised their FY2022 earnings per share estimates for Greif in a report released on Tuesday, November 22nd. KeyCorp analyst A. Josephson now expects that the industrial products company will post earnings per share of $8.05 for the year, up from their previous estimate of $8.00. The consensus estimate for Greif’s current full-year earnings is $8.02 per share. KeyCorp also issued estimates for Greif’s FY2024 earnings at $5.64 EPS.

Greif (NYSE:GEFGet Rating) last announced its earnings results on Wednesday, August 31st. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.37. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Greif had a return on equity of 29.00% and a net margin of 5.93%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $1.93 earnings per share.

GEF has been the topic of several other research reports. Bank of America downgraded Greif from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $80.00 to $67.00 in a research note on Thursday, October 13th. StockNews.com raised Greif from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Stifel Nicolaus began coverage on Greif in a research note on Friday, September 2nd. They issued a “buy” rating and a $90.00 price objective on the stock. BMO Capital Markets downgraded Greif from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $72.00 to $62.00 in a research note on Sunday, October 30th. Finally, Wells Fargo & Company decreased their target price on Greif from $71.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 6th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $68.00.

Greif Trading Down 1.0 %

Shares of NYSE:GEF opened at $72.97 on Thursday. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.05 and a beta of 0.97. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.05 and a current ratio of 1.48. The stock’s 50-day simple moving average is $65.57 and its two-hundred day simple moving average is $65.01. Greif has a 52-week low of $53.65 and a 52-week high of $74.22.

Greif Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.74%. The ex-dividend date was Thursday, September 15th. This is an increase from Greif’s previous quarterly dividend of $0.46. Greif’s dividend payout ratio (DPR) is 31.40%.

Insider Activity at Greif

In other Greif news, SVP Patrick Gerard Mullaney sold 500 shares of Greif stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $67.65, for a total value of $33,825.00. Following the sale, the senior vice president now owns 3,843 shares of the company’s stock, valued at approximately $259,978.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Greif news, Director Vicki L. Avril-Groves sold 2,400 shares of Greif stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $69.16, for a total value of $165,984.00. Following the sale, the director now owns 40,246 shares of the company’s stock, valued at approximately $2,783,413.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Patrick Gerard Mullaney sold 500 shares of Greif stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $67.65, for a total value of $33,825.00. Following the completion of the sale, the senior vice president now directly owns 3,843 shares in the company, valued at approximately $259,978.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,616 shares of company stock valued at $3,218,886. 2.59% of the stock is owned by company insiders.

Hedge Funds Weigh In On Greif

A number of institutional investors and hedge funds have recently modified their holdings of GEF. Exchange Traded Concepts LLC purchased a new position in shares of Greif in the 3rd quarter worth approximately $29,000. Catalyst Capital Advisors LLC purchased a new position in shares of Greif in the 1st quarter worth approximately $38,000. Wipfli Financial Advisors LLC purchased a new position in shares of Greif in the 3rd quarter worth approximately $61,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Greif in the 3rd quarter worth approximately $78,000. Finally, Point72 Hong Kong Ltd purchased a new position in Greif during the 3rd quarter valued at $86,000. Hedge funds and other institutional investors own 47.04% of the company’s stock.

Greif Company Profile

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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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