Greif (GEF) Releases Quarterly Earnings, Misses Expectations By $0.63 EPS
Greif (NYSE:GEF) issued its quarterly earnings data on Wednesday. The company reported $0.21 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.84 by $0.63, Analyst Ratings News reports. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company posted $0.80 earnings per share. Greif’s revenue was up 2.8% compared to the same quarter last year.
Greif (NYSE:GEF) traded down 0.34% during mid-day trading on Wednesday, hitting $49.30. 162,113 shares of the company’s stock traded hands. Greif has a 52-week low of $45.55 and a 52-week high of $56.53. The stock’s 50-day moving average is $51.41 and its 200-day moving average is $52.52. The company has a market cap of $2.350 billion and a P/E ratio of 15.83.
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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