Greif (NYSE:GEF) Shares Down 4.3%

Greif, Inc. (NYSE:GEF) was down 4.3% during mid-day trading on Thursday . The stock traded as low as $66.45 and last traded at $66.45. Approximately 2,840 shares traded hands during trading, a decline of 98% from the average daily volume of 156,743 shares. The stock had previously closed at $69.45.

Several equities analysts have recently issued reports on GEF shares. Bank of America downgraded Greif from a “buy” rating to a “neutral” rating and set a $77.00 price objective for the company. in a research report on Thursday. Zacks Investment Research cut Greif from a “buy” rating to a “hold” rating and set a $66.00 target price on the stock. in a report on Wednesday, August 18th. BMO Capital Markets boosted their target price on Greif from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, September 3rd. Finally, KeyCorp boosted their target price on Greif from $55.00 to $57.00 and gave the stock an “underweight” rating in a report on Friday, September 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $69.00.

The company has a market cap of $3.22 billion, a P/E ratio of 12.04, a PEG ratio of 1.24 and a beta of 1.08. The company has a fifty day simple moving average of $64.34 and a 200-day simple moving average of $61.86. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.26 and a quick ratio of 0.89.

Greif (NYSE:GEF) last posted its quarterly earnings results on Tuesday, August 31st. The industrial products company reported $1.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.39. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Greif had a return on equity of 19.67% and a net margin of 6.43%. The firm’s revenue was up 37.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. On average, analysts anticipate that Greif, Inc. will post 5.27 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 1st. Shareholders of record on Friday, September 17th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, September 16th. This represents a $1.84 annualized dividend and a dividend yield of 2.78%. This is a boost from Greif’s previous quarterly dividend of $0.44. Greif’s dividend payout ratio is currently 57.14%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Perkins Coie Trust Co bought a new position in shares of Greif in the second quarter valued at $33,000. Meeder Asset Management Inc. raised its stake in Greif by 294.8% during the 2nd quarter. Meeder Asset Management Inc. now owns 920 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 687 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Greif by 157.3% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 1,068 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 653 shares during the period. Koshinski Asset Management Inc. acquired a new stake in Greif during the 3rd quarter valued at $75,000. Finally, Advisory Services Network LLC acquired a new stake in Greif during the 2nd quarter valued at $76,000. 46.54% of the stock is currently owned by institutional investors.

Greif Company Profile (NYSE:GEF)

Greif, Inc engages in the production of industrial packaging products and services. It operates through the following segments: Rigid Industrial Packaging and Services, Paper Packaging and Services, Flexible Products and Services, and Land Management. The Rigid Industrial Packaging and Services segment involves the production and sale of rigid industrial packaging products, such as steel, fibre and plastic drums, rigid intermediate bulk containers, closure systems for industrial packaging products, transit protection products, water bottles and reconditioned containers, and services, such as container life cycle services, blending, filling and other packaging services, logistics and warehousing.

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