$864.40 Million in Sales Expected for Greif, Inc. (GEF) This Quarter

Equities research analysts forecast that Greif, Inc. (NYSE:GEF) will post sales of $864.40 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Greif’s earnings, with the lowest sales estimate coming in at $838.98 million and the highest estimate coming in at $901.50 million. Greif reported sales of $820.90 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.3%. The business is scheduled to issue its next earnings report on Wednesday, March 7th.

On average, analysts expect that Greif will report full year sales of $864.40 million for the current year, with estimates ranging from $3.77 billion to $3.85 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.89 billion per share, with estimates ranging from $3.85 billion to $3.92 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Greif.

Greif (NYSE:GEF) last announced its quarterly earnings data on Wednesday, December 6th. The industrial products company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.09. Greif had a net margin of 3.26% and a return on equity of 17.06%. The business had revenue of $968.00 million for the quarter, compared to analyst estimates of $931.96 million. During the same period in the prior year, the firm posted $0.65 EPS. The company’s revenue was up 11.6% on a year-over-year basis.

A number of research firms have recently issued reports on GEF. BMO Capital Markets reiterated a “hold” rating and set a $57.00 price objective on shares of Greif in a research note on Wednesday, December 13th. Zacks Investment Research lowered shares of Greif from a “hold” rating to a “sell” rating in a research note on Thursday, November 30th. KeyCorp reiterated a “sell” rating on shares of Greif in a research note on Friday, November 10th. Bank of America upgraded shares of Greif from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Tuesday, January 2nd. They noted that the move was a valuation call. Finally, Robert W. Baird reiterated a “buy” rating and set a $66.00 price objective on shares of Greif in a research note on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $64.00.

Hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new stake in shares of Greif during the second quarter worth approximately $208,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Greif during the third quarter worth approximately $216,000. Quantbot Technologies LP grew its position in shares of Greif by 3,048.2% during the third quarter. Quantbot Technologies LP now owns 4,376 shares of the industrial products company’s stock worth $256,000 after buying an additional 4,237 shares in the last quarter. Nine Chapters Capital Management LLC grew its position in shares of Greif by 83.3% during the third quarter. Nine Chapters Capital Management LLC now owns 8,800 shares of the industrial products company’s stock worth $515,000 after buying an additional 4,000 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of Greif by 2.1% during the second quarter. Neuberger Berman Group LLC now owns 11,231 shares of the industrial products company’s stock worth $626,000 after buying an additional 231 shares in the last quarter. 48.54% of the stock is owned by institutional investors and hedge funds.

Greif (NYSE:GEF) traded down $0.97 during midday trading on Wednesday, reaching $60.70. 133,680 shares of the company traded hands, compared to its average volume of 169,714. Greif has a 52-week low of $50.94 and a 52-week high of $65.60. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.45 and a quick ratio of 1.04. The stock has a market capitalization of $3,050.00, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 2.09 and a beta of 1.29.

The business also recently declared a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Monday, December 18th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, December 15th. Greif’s payout ratio is currently 67.74%.

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Greif Company Profile

Greif, Inc is a producer of industrial packaging products and services. The Company’s segments are Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services, and Land Management. The Rigid Industrial Packaging & Services segment is engaged in the production and sale of rigid industrial packaging products, and services, such as container life cycle management, filling, logistics, warehousing and other packaging services.

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