Greif (NYSE:GEF) Releases Quarterly Earnings Results, Beats Expectations By $2.45 EPS

Greif (NYSE:GEF) released its earnings results on Tuesday. The industrial products company reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $2.45, Fidelity Earnings reports. Greif had a net margin of 2.20% and a return on equity of 15.78%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business earned $0.95 earnings per share. Greif’s revenue for the quarter was up 15.7% on a year-over-year basis. Greif updated its Q2 2021 guidance to $1.110-1.150 EPS.

NYSE:GEF opened at $59.96 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 1.87. Greif has a one year low of $31.14 and a one year high of $66.03. The company has a market capitalization of $2.91 billion, a P/E ratio of 35.69, a PEG ratio of 1.61 and a beta of 1.08. The stock’s 50-day simple moving average is $60.99.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Monday, June 21st will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Friday, June 18th. Greif’s dividend payout ratio is currently 54.66%.

A number of research analysts have recently issued reports on GEF shares. KeyCorp boosted their price objective on Greif from $40.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, April 5th. Wells Fargo & Company raised their price objective on shares of Greif from $68.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, May 20th. Zacks Investment Research lowered shares of Greif from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research note on Monday, May 31st. Finally, BMO Capital Markets upped their price objective on shares of Greif from $53.00 to $64.00 in a report on Wednesday, March 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Greif has an average rating of “Hold” and an average target price of $59.40.

In related news, VP Gary R. Martz purchased 7,000 shares of the business’s stock in a transaction on Tuesday, April 6th. The stock was acquired at an average price of $59.18 per share, for a total transaction of $414,260.00. Following the purchase, the vice president now owns 70,260 shares of the company’s stock, valued at $4,157,986.80. The transaction was disclosed in a filing with the SEC, which is available at this link. 13.73% of the stock is currently owned by company insiders.

Greif Company Profile

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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Earnings History for Greif (NYSE:GEF)

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