Greif (NYSE:GEF) Releases FY 2022 Earnings Guidance

Greif (NYSE:GEFGet Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $7.45-$7.75 for the period, compared to the consensus earnings per share estimate of $6.61. The company issued revenue guidance of -.

A number of equities analysts recently issued reports on the stock. BMO Capital Markets downgraded shares of Greif from an outperform rating to a market perform rating and dropped their price objective for the stock from $71.00 to $52.00 in a report on Friday, May 27th. Zacks Investment Research downgraded shares of Greif from a buy rating to a sell rating and set a $65.00 price objective for the company. in a research report on Friday, May 6th. Bank of America upgraded Greif from an underperform rating to a buy rating and upped their price objective for the stock from $74.00 to $77.00 in a research note on Friday, March 25th. StockNews.com initiated coverage on Greif in a research report on Thursday, March 31st. They set a buy rating on the stock. Finally, Wells Fargo & Company upgraded Greif from an equal weight rating to an overweight rating and upped their price target for the stock from $65.00 to $71.00 in a research report on Tuesday, February 15th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Greif presently has a consensus rating of Hold and a consensus price target of $64.83.

Shares of GEF traded down $1.41 during trading hours on Wednesday, reaching $60.91. 202,764 shares of the stock traded hands, compared to its average volume of 205,676. The company has a market cap of $2.96 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 0.95 and a beta of 0.99. The company has a current ratio of 1.33, a quick ratio of 0.95 and a debt-to-equity ratio of 1.37. The company’s 50-day moving average price is $61.09 and its two-hundred day moving average price is $60.61. Greif has a 52-week low of $53.65 and a 52-week high of $72.00.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 17th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $1.84 dividend on an annualized basis and a yield of 3.02%. Greif’s dividend payout ratio is presently 29.11%.

In other Greif news, EVP Bala Sathyanarayanan purchased 450 shares of the stock in a transaction that occurred on Thursday, April 7th. The shares were bought at an average cost of $58.76 per share, with a total value of $26,442.00. Following the acquisition, the executive vice president now owns 10,828 shares in the company, valued at $636,253.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.59% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of GEF. Yousif Capital Management LLC increased its holdings in Greif by 1.9% in the 1st quarter. Yousif Capital Management LLC now owns 13,901 shares of the industrial products company’s stock valued at $904,000 after acquiring an additional 260 shares during the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of Greif by 4.6% in the first quarter. Ontario Teachers Pension Plan Board now owns 16,111 shares of the industrial products company’s stock worth $1,048,000 after purchasing an additional 705 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Greif by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,731 shares of the industrial products company’s stock worth $633,000 after buying an additional 928 shares in the last quarter. Point72 Hong Kong Ltd boosted its stake in Greif by 326.6% during the first quarter. Point72 Hong Kong Ltd now owns 1,813 shares of the industrial products company’s stock valued at $118,000 after buying an additional 1,388 shares during the last quarter. Finally, Guggenheim Capital LLC grew its holdings in Greif by 19.6% during the 1st quarter. Guggenheim Capital LLC now owns 9,286 shares of the industrial products company’s stock valued at $604,000 after buying an additional 1,520 shares in the last quarter. 46.11% of the stock is owned by institutional investors.

About Greif (Get Rating)

Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. It operates in three segments: Global Industrial Packaging; Paper Packaging & Services; and Land Management. The Global Industrial Packaging segment produces and sells industrial packaging products, including steel, fiber, and plastic drums; rigid and flexible intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing, and other packaging services to chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral product, and other industries.

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