Greif (NYSE:GEF) Updates FY 2021 Earnings Guidance

Greif (NYSE:GEF) issued an update on its FY 2021 earnings guidance on Wednesday morning. 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.

NYSE:GEF opened at $61.92 on Friday. Greif has a 12 month low of $31.14 and a 12 month high of $66.03. The business’s fifty day moving average is $61.08. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $3.01 billion, a P/E ratio of 36.86, a P/E/G ratio of 1.61 and a beta of 1.08.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Monday, June 21st will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, June 18th. This represents a $1.76 annualized dividend and a yield of 2.84%. Greif’s dividend payout ratio is presently 54.66%.

Several equities analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Greif from $64.00 to $68.00 and gave the company an outperform rating in a report on Friday. Robert W. Baird reiterated a neutral rating and set a $66.00 target price (up from $60.00) on shares of Greif in a report on Friday. KeyCorp increased their price objective on shares of Greif from $40.00 to $45.00 and gave the company an underweight rating in a research report on Monday, April 5th. Zacks Investment Research downgraded shares of Greif from a buy rating to a hold rating and set a $65.00 price objective on the stock. in a research report on Monday, May 31st. Finally, 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. One analyst has rated the stock with a sell rating, two have issued 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 $61.17.

In other news, VP Gary R. Martz bought 7,000 shares of Greif stock in a transaction dated Tuesday, April 6th. The shares were acquired at an average cost 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 in the company, valued at approximately $4,157,986.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 13.73% of the company’s stock.

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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