Greif (NYSE:GEF) Announces Earnings Results
Greif (NYSE:GEF – Get Free Report) issued its quarterly earnings results on Wednesday. The industrial products company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.26, MarketWatch Earnings reports. Greif had a net margin of 7.23% and a return on equity of 19.88%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the business earned $1.83 earnings per share. The business’s quarterly revenue was down 12.5% on a year-over-year basis.
Greif Stock Down 0.8 %
Shares of GEF traded down $0.56 during trading hours on Wednesday, hitting $69.65. The company had a trading volume of 264,065 shares, compared to its average volume of 146,521. The firm has a fifty day moving average price of $66.09 and a 200-day moving average price of $68.23. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.11 and a current ratio of 1.52. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 1.20 and a beta of 0.99. Greif has a 52-week low of $57.38 and a 52-week high of $76.00.
Greif Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Monday, December 18th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, December 15th. Greif’s dividend payout ratio is presently 31.23%.
Analyst Ratings Changes
Several brokerages have recently issued reports on GEF. Stifel Nicolaus restated a “buy” rating and issued a $94.00 target price on shares of Greif in a report on Thursday, August 31st. StockNews.com assumed coverage on shares of Greif in a report on Thursday, October 5th. They issued a “buy” rating on the stock.
Check Out Our Latest Analysis on GEF
Hedge Funds Weigh In On Greif
Large investors have recently modified their holdings of the stock. HighTower Advisors LLC bought a new stake in Greif in the 1st quarter worth about $1,648,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Greif by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,731 shares of the industrial products company’s stock worth $633,000 after buying an additional 928 shares in the last quarter. Yousif Capital Management LLC increased its holdings in Greif by 1.9% in the 1st quarter. Yousif Capital Management LLC now owns 13,901 shares of the industrial products company’s stock worth $904,000 after buying an additional 260 shares in the last quarter. Prudential Financial Inc. increased its holdings in Greif by 16.8% in the 1st quarter. Prudential Financial Inc. now owns 202,618 shares of the industrial products company’s stock worth $13,183,000 after buying an additional 29,187 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Greif by 52.8% in the 1st quarter. First Trust Advisors LP now owns 99,060 shares of the industrial products company’s stock worth $6,445,000 after buying an additional 34,220 shares in the last quarter. Hedge funds and other institutional investors own 45.98% of the company’s stock.
About Greif (Get Free Report)
Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. It operates through 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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Original: MarketBeat News Feed: Greif (NYSE:GEF) Announces Earnings Results