Analysts Anticipate Greif, Inc. (NYSE:GEF) Will Post Quarterly Sales of $1.13 Billion

Wall Street analysts expect Greif, Inc. (NYSE:GEF) to report sales of $1.13 billion for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Greif’s earnings. The highest sales estimate is $1.19 billion and the lowest is $1.07 billion. Greif reported sales of $1.25 billion in the same quarter last year, which indicates a negative year over year growth rate of 9.6%. The company is expected to issue its next earnings results on Wednesday, August 26th.

On average, analysts expect that Greif will report full year sales of $4.55 billion for the current year, with estimates ranging from $4.46 billion to $4.65 billion. For the next fiscal year, analysts expect that the firm will post sales of $4.53 billion, with estimates ranging from $4.44 billion to $4.63 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Greif.

Greif (NYSE:GEF) last announced its quarterly earnings data on Wednesday, June 3rd. The industrial products company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.20. Greif had a return on equity of 20.53% and a net margin of 3.60%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year.

Several research analysts recently issued reports on GEF shares. ValuEngine cut Greif from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 30th. Wells Fargo & Co lifted their price target on Greif from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Robert W. Baird dropped their price target on Greif from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Zacks Investment Research upgraded Greif from a “sell” rating to a “hold” rating and set a $35.00 price target on the stock in a report on Wednesday, April 8th. Finally, KeyCorp dropped their price target on Greif from $29.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, May 8th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $35.80.

Large investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC grew its position in Greif by 50.0% during the first quarter. MCF Advisors LLC now owns 1,500 shares of the industrial products company’s stock worth $47,000 after buying an additional 500 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Greif during the fourth quarter worth about $50,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Greif by 32.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,975 shares of the industrial products company’s stock worth $92,000 after buying an additional 731 shares in the last quarter. New Mexico Educational Retirement Board grew its position in Greif by 40.0% during the first quarter. New Mexico Educational Retirement Board now owns 6,300 shares of the industrial products company’s stock worth $196,000 after buying an additional 1,800 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Greif during the fourth quarter worth about $205,000. Institutional investors own 48.00% of the company’s stock.

Shares of NYSE:GEF traded down $0.30 during mid-day trading on Monday, hitting $32.28. 277,766 shares of the company traded hands, compared to its average volume of 271,787. The stock has a market cap of $1.57 billion, a P/E ratio of 11.17, a P/E/G ratio of 0.94 and a beta of 1.13. The company has a current ratio of 1.48, a quick ratio of 1.08 and a debt-to-equity ratio of 2.52. Greif has a 12-month low of $23.65 and a 12-month high of $50.37. The stock has a 50-day moving average price of $33.36 and a two-hundred day moving average price of $36.70.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 18th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.45%. Greif’s payout ratio is 44.44%.

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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