Greif, Inc. (GEF) Issues FY14 Earnings Guidance
Greif, Inc. (NYSE:GEF) issued an update on its FY14 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.98-2.08 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.81, American Banking News reports.
Shares of Greif, Inc. (NYSE:GEF) opened at 50.30 on Monday. Greif, Inc. has a 52 week low of $47.76 and a 52 week high of $57.74. The stock’s 50-day moving average is $51.57 and its 200-day moving average is $52.49. The company has a market cap of $2.398 billion and a P/E ratio of 16.06.
Greif (NYSE:GEF) last announced its earnings results on Wednesday, June 4th. The company reported $0.65 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.67 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Analysts expect that Greif, Inc. will post $2.81 EPS for the current fiscal year.
On a related note, analysts at Bank of America upgraded shares of Greif from an underperform rating to a buy rating in a research note on Friday, June 13th. They now have a $61.00 price target on the stock, up previously from $54.00.
Greif, Inc is a producer of industrial packaging products and services with manufacturing facilities located in over 50 countries.
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