Greif (NYSE:GEF) Releases FY22 Earnings Guidance

Greif (NYSE:GEFGet Rating) issued an update on its FY22 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $7.45-7.75 for the period, compared to the consensus estimate of $6.61. Greif also updated its FY 2022 guidance to $7.45-$7.75 EPS.

Shares of GEF traded down $1.41 during midday trading on Wednesday, hitting $60.91. The stock had a trading volume of 192,342 shares, compared to its average volume of 205,676. Greif has a fifty-two week low of $53.65 and a fifty-two week high of $72.00. The business has a 50-day simple moving average of $61.01 and a two-hundred day simple moving average of $60.61. The firm 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 also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 17th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Thursday, June 16th. Greif’s payout ratio is 29.11%.

GEF has been the subject of several recent analyst reports. BMO Capital Markets cut shares of Greif from an outperform rating to a market perform rating and decreased their target price for the stock from $71.00 to $52.00 in a report on Friday, May 27th. Wells Fargo & Company upgraded shares of Greif from an equal weight rating to an overweight rating and raised their price target for the stock from $65.00 to $71.00 in a report on Tuesday, February 15th. StockNews.com started coverage on shares of Greif in a report on Thursday, March 31st. They set a buy rating for the company. Bank of America raised shares of Greif from an underperform rating to a buy rating and raised their price objective for the company from $74.00 to $77.00 in a research report on Friday, March 25th. Finally, Zacks Investment Research lowered shares of Greif from a buy rating to a sell rating and set a $65.00 price objective on the stock. in a research report on Friday, May 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Greif currently has a consensus rating of Hold and an average price target of $64.83.

In other news, EVP Bala Sathyanarayanan purchased 450 shares of the company’s stock in a transaction dated Thursday, April 7th. The shares were bought at an average price of $58.76 per share, with a total value of $26,442.00. Following the completion of the transaction, the executive vice president now directly owns 10,828 shares in the company, valued at approximately $636,253.28. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.59% of the company’s stock.

Several institutional investors have recently made changes to their positions in GEF. Point72 Hong Kong Ltd increased its holdings in Greif by 326.6% in the 1st 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 period. Quantbot Technologies LP bought a new stake in Greif in the 1st quarter valued at $419,000. Squarepoint Ops LLC bought a new stake in Greif in the 4th quarter valued at $491,000. Cetera Investment Advisers bought a new stake in Greif in the 4th quarter valued at $510,000. Finally, Guggenheim Capital LLC increased its holdings in Greif by 19.6% in 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 during the period. Institutional investors and hedge funds own 46.11% of the company’s stock.

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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