Greif, Inc. (GEF) to Issue Quarterly Dividend of $0.54 on January 1st

Greif, Inc. (NYSE:GEFGet Free Report) announced a quarterly dividend on Tuesday, December 3rd,Wall Street Journal reports. Stockholders of record on Monday, December 16th will be paid a dividend of 0.54 per share by the industrial products company on Wednesday, January 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, December 16th.

Greif has raised its dividend payment by an average of 5.0% per year over the last three years. Greif has a dividend payout ratio of 47.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Greif to earn $5.37 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 40.2%.

Greif Trading Down 1.1 %

Shares of GEF opened at $66.61 on Friday. Greif has a 1-year low of $55.95 and a 1-year high of $73.16. The company has a market capitalization of $3.14 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.19 and a beta of 0.92. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.53 and a quick ratio of 1.14. The firm’s 50 day simple moving average is $66.47 and its 200 day simple moving average is $63.21.

Greif (NYSE:GEFGet Free Report) last posted its quarterly earnings data on Wednesday, December 4th. The industrial products company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.23). Greif had a net margin of 4.81% and a return on equity of 11.85%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the business posted $1.56 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that Greif will post 4.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Bank of America reduced their price objective on Greif from $77.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Wells Fargo & Company lowered their price objective on shares of Greif from $80.00 to $76.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Truist Financial reaffirmed a “hold” rating and issued a $67.00 price objective (down previously from $69.00) on shares of Greif in a research note on Friday, August 30th. Robert W. Baird lifted their target price on shares of Greif from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Stifel Nicolaus restated a “buy” rating and set a $88.00 price target on shares of Greif in a research report on Monday, August 26th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.67.

Read Our Latest Stock Report on GEF

About Greif

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Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. The company operates through Global Industrial Packaging; Paper Packaging & Services; and Land Management segments. 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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Dividend History for Greif (NYSE:GEF)

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