Greif (NYSE:GEF) updated its FY19 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.70-4.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.77. Greif also updated its FY 2019 guidance to $3.70-4.00 EPS.
A number of analysts recently issued reports on the company. Bank of America set a $37.00 price objective on Greif and gave the stock a sell rating in a report on Friday, June 7th. TheStreet cut Greif from a b- rating to a c+ rating in a report on Friday, June 14th. Wells Fargo & Co set a $40.00 price objective on Greif and gave the stock a hold rating in a report on Friday, June 7th. Finally, Zacks Investment Research raised Greif from a sell rating to a hold rating and set a $34.00 price objective on the stock in a report on Monday, August 19th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company presently has an average rating of Sell and a consensus target price of $36.38.
Shares of NYSE:GEF traded up $0.71 on Wednesday, hitting $32.34. The company’s stock had a trading volume of 287,383 shares, compared to its average volume of 252,158. The company has a 50-day simple moving average of $33.66 and a 200 day simple moving average of $36.99. Greif has a 1 year low of $29.85 and a 1 year high of $59.00. The company has a market capitalization of $1.51 billion, a PE ratio of 9.16, a PEG ratio of 0.96 and a beta of 1.35. The company has a debt-to-equity ratio of 2.51, a current ratio of 1.67 and a quick ratio of 1.15.
Greif (NYSE:GEF) last released its quarterly earnings results on Wednesday, June 5th. The industrial products company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.02. Greif had a return on equity of 19.11% and a net margin of 3.68%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the firm posted $0.76 EPS. The company’s revenue was up 25.3% compared to the same quarter last year. On average, equities research analysts expect that Greif will post 3.79 earnings per share for the current fiscal year.
The firm also recently declared a — dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be issued a $0.44 dividend. The ex-dividend date is Monday, September 16th. This represents a dividend yield of 5.4%. Greif’s payout ratio is currently 49.86%.
In other news, Director Mark A. Emkes acquired 1,190 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were bought at an average cost of $32.75 per share, with a total value of $38,972.50. Following the acquisition, the director now owns 31,532 shares in the company, valued at approximately $1,032,673. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter G. Watson acquired 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were purchased at an average cost of $32.71 per share, for a total transaction of $490,650.00. Following the completion of the acquisition, the chief executive officer now owns 140,011 shares in the company, valued at approximately $4,579,759.81. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 20,358 shares of company stock worth $670,275. Insiders own 13.56% of the company’s stock.
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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