Greif (NYSE:GEF) Updates FY 2021 Earnings Guidance

Greif (NYSE:GEF) updated its FY 2021 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.550-4.850 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.860. The company issued revenue guidance of -.Greif also updated its FY21 guidance to $4.55-4.85 EPS.

Several equities analysts have recently weighed in on the company. Robert W. Baird reiterated a neutral rating and set a $66.00 price objective (up previously from $60.00) on shares of Greif in a report on Friday. KeyCorp boosted their price target on Greif from $40.00 to $45.00 and gave the stock an underweight rating in a research report on Monday, April 5th. BMO Capital Markets boosted their target price on Greif from $64.00 to $68.00 and gave the stock an outperform rating in a report on Friday. Wells Fargo & Company boosted their target price on Greif from $68.00 to $77.00 and gave the stock an overweight rating in a report on Thursday, May 20th. Finally, Zacks Investment Research lowered Greif from a buy rating to a hold rating and set a $65.00 target price on the stock. in a report on Monday, May 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $61.17.

NYSE GEF opened at $61.92 on Friday. The business’s 50 day simple moving average is $61.08. Greif has a one year low of $31.14 and a one year high of $66.03. The firm has a market capitalization of $3.01 billion, a PE ratio of 36.86, a P/E/G ratio of 1.61 and a beta of 1.08. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 1.87.

Greif (NYSE:GEF) last announced its quarterly earnings results on Tuesday, June 8th. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.07. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.26 billion. Greif had a return on equity of 15.78% and a net margin of 2.20%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 earnings per share. As a group, sell-side analysts predict that Greif will post 3.7 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Monday, June 21st will be issued a $0.44 dividend. The ex-dividend date is Friday, June 18th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.84%. Greif’s dividend payout ratio is presently 54.66%.

In other Greif news, VP Gary R. Martz sold 514 shares of the firm’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $61.55, for a total value of $31,636.70. Following the completion of the sale, the vice president now directly owns 8,100 shares of the company’s stock, valued at $498,555. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gary R. Martz purchased 7,000 shares of Greif stock in a transaction dated Tuesday, April 6th. The stock was bought at an average price of $59.18 per share, with a total value of $414,260.00. Following the completion of the transaction, the vice president now owns 70,260 shares of the company’s stock, valued at approximately $4,157,986.80. The disclosure for this purchase can be found here. 13.73% of the stock is owned by company insiders.

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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