Several other equities research analysts also recently issued reports on GEF. DA Davidson downgraded Greif from a neutral rating to an underperform rating and set a $47.00 price objective for the company. in a research note on Monday, November 21st. Wells Fargo & Co downgraded Greif from an outperform rating to a market perform rating in a research note on Monday, November 21st. They noted that the move was a valuation call. Bank of America Corp downgraded Greif from a buy rating to a neutral rating and set a $56.00 price objective for the company. in a research note on Tuesday, November 22nd. They noted that the move was a valuation call. KeyCorp downgraded Greif from a sector weight rating to an underweight rating and set a $47.00 price objective for the company. in a research note on Tuesday, November 29th. Finally, Zacks Investment Research downgraded Greif from a buy rating to a hold rating in a research note on Tuesday, December 6th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $52.00.
Greif (NYSE:GEF) traded up 1.15% during trading on Friday, reaching $57.08. The company’s stock had a trading volume of 96,488 shares. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 29.85 and a beta of 1.51. The stock’s 50-day moving average is $56.56 and its 200 day moving average is $52.09. Greif has a 52-week low of $30.33 and a 52-week high of $60.55.
Greif (NYSE:GEF) last released its quarterly earnings results on Wednesday, March 1st. The company reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.05. Greif had a net margin of 2.25% and a return on equity of 14.62%. The company earned $820.90 million during the quarter, compared to analyst estimates of $802.04 million. During the same quarter last year, the business earned $0.40 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, analysts predict that Greif will post $2.95 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 17th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.98%. The ex-dividend date is Wednesday, March 15th. Greif’s dividend payout ratio is currently 133.33%.
A number of large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in shares of Greif by 8.5% in the second quarter. Public Employees Retirement System of Ohio now owns 6,098 shares of the company’s stock valued at $227,000 after buying an additional 477 shares in the last quarter. Park National Corp OH purchased a new stake in Greif during the third quarter worth $223,000. Oregon Public Employees Retirement Fund increased its stake in Greif by 2.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 8,777 shares of the company’s stock worth $435,000 after buying an additional 178 shares during the period. Nisa Investment Advisors LLC increased its stake in Greif by 55.8% in the third quarter. Nisa Investment Advisors LLC now owns 24,000 shares of the company’s stock worth $1,190,000 after buying an additional 8,600 shares during the period. Finally, WESPAC Advisors LLC purchased a new stake in Greif during the third quarter worth $891,000. 48.91% of the stock is owned by hedge funds and other institutional investors.
Greif Company Profile
Greif, Inc is a producer of industrial packaging products and services. The Company’s segments are Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services, and Land Management. The Rigid Industrial Packaging & Services segment is engaged in the production and sale of rigid industrial packaging products, and services, such as container life cycle management, filling, logistics, warehousing and other packaging services.
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