Zacks: Analysts Anticipate Greif, Inc. (GEF) Will Announce Quarterly Sales of $864.40 Million

Equities research analysts expect Greif, Inc. (NYSE:GEF) to announce sales of $864.40 million for the current quarter, Zacks reports. Four analysts have provided 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 would indicate a positive year-over-year growth rate of 5.3%. The firm is scheduled to announce its next earnings results on Wednesday, March 7th.

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

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

GEF has been the subject of several recent research reports. DA Davidson raised Greif from a “neutral” rating to a “buy” rating and set a $74.00 price target for the company in a report on Thursday, December 7th. KeyCorp set a $47.00 price target on Greif and gave the company a “sell” rating in a report on Friday, December 8th. Bank of America raised Greif from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a report on Tuesday, January 2nd. They noted that the move was a valuation call. Robert W. Baird reissued a “buy” rating and set a $66.00 price target on shares of Greif in a report on Friday, November 10th. Finally, BMO Capital Markets reissued a “hold” rating and set a $55.00 price target on shares of Greif in a report on Friday, November 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $64.00.

Shares of Greif (NYSE GEF) opened at $59.92 on Friday. Greif has a fifty-two week low of $50.94 and a fifty-two week high of $65.60. The company has a current ratio of 1.45, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $2,877.22, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.04 and a beta of 1.30.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Monday, December 18th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, December 15th. Greif’s dividend payout ratio (DPR) is 83.17%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEF. Amalgamated Bank bought a new position in shares of Greif in the second quarter worth about $208,000. Crossmark Global Holdings Inc. bought a new position in shares of Greif in the third quarter worth about $216,000. Quantbot Technologies LP boosted its stake in shares of Greif by 3,048.2% in the third quarter. Quantbot Technologies LP now owns 4,376 shares of the industrial products company’s stock worth $256,000 after acquiring an additional 4,237 shares during the period. Nine Chapters Capital Management LLC boosted its stake in shares of Greif by 83.3% in the third quarter. Nine Chapters Capital Management LLC now owns 8,800 shares of the industrial products company’s stock worth $515,000 after acquiring an additional 4,000 shares during the period. Finally, Alpha Windward LLC boosted its stake in shares of Greif by 16.7% in the fourth quarter. Alpha Windward LLC now owns 9,660 shares of the industrial products company’s stock worth $585,000 after acquiring an additional 1,380 shares during the period. 48.55% of the stock is owned by hedge funds and other institutional investors.

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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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