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

Brokerages forecast that Greif, Inc. (NYSE:GEF) will report sales of $864.40 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Greif’s earnings, with the highest sales estimate coming in at $901.50 million and the lowest estimate coming in at $838.98 million. Greif reported sales of $820.90 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.3%. The company is expected to announce its next earnings results after the market closes on Wednesday, March 7th.

On average, 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 year, analysts expect that the business will post sales of $3.89 billion per share, with estimates ranging from $3.85 billion to $3.92 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Greif.

Greif (NYSE:GEF) last posted its earnings results 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. The company had revenue of $968.00 million for the quarter, compared to analyst estimates of $931.96 million. Greif had a net margin of 3.26% and a return on equity of 17.06%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $0.65 earnings per share.

A number of equities research analysts recently commented on GEF shares. DA Davidson upgraded shares of Greif from a “neutral” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Thursday, December 7th. KeyCorp set a $47.00 price objective on shares of Greif and gave the stock a “sell” rating in a report on Friday, December 8th. 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 report on Tuesday, January 2nd. They noted that the move was a valuation call. Robert W. Baird restated a “buy” rating and set a $66.00 price objective on shares of Greif in a report on Friday, November 10th. Finally, BMO Capital Markets restated a “hold” rating and set a $55.00 price objective on shares of Greif in a report on Friday, November 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $64.00.

Several large investors have recently modified their holdings of GEF. Amalgamated Bank acquired a new stake in Greif in the 2nd quarter valued at $208,000. Crossmark Global Holdings Inc. acquired a new stake in Greif in the 3rd quarter valued at $216,000. Nine Chapters Capital Management LLC increased its stake in Greif by 83.3% in the 3rd quarter. Nine Chapters Capital Management LLC now owns 8,800 shares of the industrial products company’s stock valued at $515,000 after buying an additional 4,000 shares during the last quarter. Quantbot Technologies LP increased its stake in Greif by 3,048.2% in the 3rd quarter. Quantbot Technologies LP now owns 4,376 shares of the industrial products company’s stock valued at $256,000 after buying an additional 4,237 shares during the last quarter. Finally, GSA Capital Partners LLP increased its stake in Greif by 150.9% in the 3rd quarter. GSA Capital Partners LLP now owns 86,007 shares of the industrial products company’s stock valued at $5,035,000 after buying an additional 51,726 shares during the last quarter. Institutional investors and hedge funds own 48.56% of the company’s stock.

Shares of Greif (GEF) opened at $54.66 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.45 and a debt-to-equity ratio of 0.90. The firm has a market cap of $2,583.95, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 1.83 and a beta of 1.21. Greif has a twelve month low of $50.94 and a twelve month high of $65.60.

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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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