Greif Rating Lowered to Underperform at Zacks (GEF)
Greif (NYSE:GEF) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report issued on Monday. They currently have a $45.90 price target on the stock. Zacks‘s target price would indicate a potential downside of 4.16% from the stock’s previous close.
Separately, 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.
Shares of Greif (NYSE:GEF) traded down 2.48% during mid-day trading on Monday, hitting $47.89. 265,027 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 has a 50-day moving average of $50.82 and a 200-day moving average of $52.47. The company has a market cap of $2.286 billion and a price-to-earnings ratio of 20.47.
Greif (NYSE:GEF) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by $0.63. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts expect that Greif will post $2.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Friday, September 19th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Wednesday, September 17th.
Greif, Inc is a producer of industrial packaging products and services with manufacturing facilities located in over 50 countries.
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