Greif Inc. (GEF) Issues FY14 Earnings Guidance
Greif Inc. (NYSE:GEF) issued an update on its FY14 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.60 to $3.15 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.19, StockRatingsNetwork.com reports.
Shares of Greif Inc. (NYSE:GEF) traded up 1.97% on Wednesday, hitting $51.85. The stock had a trading volume of 200,999 shares. Greif Inc. has a 1-year low of $45.49 and a 1-year high of $58.27. The stock has a 50-day moving average of $51.53 and a 200-day moving average of $52.35. The company has a market cap of $2.467 billion and a price-to-earnings ratio of 16.41.
Greif (NYSE:GEF) last announced its earnings results on Wednesday, February 26th. The company reported $0.51 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.56 by $0.05. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the company posted $0.43 earnings per share. Greif’s revenue was up 2.6% compared to the same quarter last year. On average, analysts predict that Greif Inc. will post $3.20 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Friday, March 14th.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Greif from an underperform rating to a neutral rating in a research note on Tuesday, February 11th. They now have a $51.90 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $54.63.
Greif, Inc is a producer of industrial packaging products and services with manufacturing facilities located in over 50 countries.
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