Greif, Inc. Plans Quarterly Dividend of $0.44 (NYSE:GEF)

Greif, Inc. (NYSE:GEF) declared a quarterly dividend on Tuesday, June 4th, NASDAQ reports. Stockholders of record on Tuesday, June 18th will be paid a dividend of 0.44 per share by the industrial products company on Monday, July 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Monday, June 17th.

Greif has increased its dividend payment by an average of 0.4% per year over the last three years. Greif has a payout ratio of 48.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Greif to earn $4.10 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 42.9%.

Greif stock traded up $0.69 during trading on Wednesday, hitting $35.38. The stock had a trading volume of 7,794 shares, compared to its average volume of 230,070. Greif has a 1 year low of $31.80 and a 1 year high of $59.48. The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 2.50. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.04 and a beta of 1.50.

Greif (NYSE:GEF) last posted its quarterly earnings data on Wednesday, June 5th. The industrial products company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.79 by $0.02. Greif had a return on equity of 19.11% and a net margin of 3.68%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the business earned $0.76 earnings per share. Greif’s revenue for the quarter was up 25.3% on a year-over-year basis. As a group, equities research analysts forecast that Greif will post 3.8 earnings per share for the current fiscal year.

Several equities analysts recently commented on GEF shares. KeyCorp reiterated a “sell” rating and issued a $31.00 price objective on shares of Greif in a research note on Thursday, February 28th. Zacks Investment Research downgraded Greif from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Bank of America set a $38.00 price objective on Greif and gave the company a “sell” rating in a research note on Thursday, March 7th. Finally, Wells Fargo & Co set a $40.00 price objective on Greif and gave the company a “hold” rating in a research note on Friday, June 7th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock presently has an average rating of “Sell” and an average target price of $36.88.

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About Greif

Greif, Inc produces and sells industrial packaging products and services worldwide. It operates through 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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Dividend History for Greif (NYSE:GEF)

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