Greif, Inc. (GEF) Expected to Announce Quarterly Sales of $962.39 Million

Equities research analysts predict that Greif, Inc. (NYSE:GEF) will announce sales of $962.39 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Greif’s earnings, with estimates ranging from $942.70 million to $986.80 million. Greif reported sales of $887.40 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.5%. The company is scheduled to report its next earnings report on Wednesday, June 6th.

According to Zacks, analysts expect that Greif will report full-year sales of $962.39 million for the current fiscal year, with estimates ranging from $3.83 billion to $4.01 billion. For the next financial year, analysts expect that the company will post sales of $4.02 billion per share, with estimates ranging from $3.89 billion to $4.15 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Greif.

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Greif (NYSE:GEF) last posted its quarterly earnings data on Wednesday, February 28th. The industrial products company reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.17). Greif had a net margin of 4.56% and a return on equity of 16.63%. The firm had revenue of $905.70 million during the quarter, compared to analysts’ expectations of $867.24 million. During the same quarter last year, the business posted $0.45 EPS. The company’s quarterly revenue was up 10.3% on a year-over-year basis.

Several research analysts have recently weighed in on GEF shares. Bank of America set a $63.00 price objective on shares of Greif and gave the company a “buy” rating in a report on Tuesday, March 13th. KeyCorp reiterated a “sell” rating and issued a $47.00 price target on shares of Greif in a research report on Tuesday, February 20th. BMO Capital Markets reiterated a “hold” rating and issued a $57.00 price target on shares of Greif in a research report on Wednesday, December 13th. Zacks Investment Research lowered shares of Greif from a “hold” rating to a “sell” rating in a research report on Thursday, November 30th. Finally, Robert W. Baird restated an “outperform” rating and set a $72.00 target price (up previously from $66.00) on shares of Greif in a research report on Friday, December 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $62.60.

Several hedge funds have recently made changes to their positions in the company. Crossmark Global Holdings Inc. purchased a new stake in Greif during the third quarter worth about $216,000. ING Groep NV acquired a new position in Greif in the fourth quarter valued at approximately $236,000. Quantbot Technologies LP boosted its holdings 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 valued at $256,000 after acquiring an additional 4,237 shares during the period. Jane Street Group LLC acquired a new stake in shares of Greif during the fourth quarter worth $354,000. Finally, Quadrature Capital Ltd purchased a new position in Greif in the fourth quarter worth $380,000. 51.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GEF stock traded down $1.01 during trading hours on Friday, reaching $49.80. 176,926 shares of the company were exchanged, compared to its average volume of 224,436. The stock has a market cap of $2,483.10, a PE ratio of 17.64, a PEG ratio of 1.78 and a beta of 1.18. Greif has a one year low of $47.97 and a one year high of $65.60. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.12 and a current ratio of 1.65.

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Monday, March 19th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.37%. The ex-dividend date is Friday, March 16th. Greif’s payout ratio is presently 58.33%.

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About Greif

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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