Analysts Issue Forecasts for Greif, Inc.’s Q3 2024 Earnings (NYSE:GEF)

Greif, Inc. (NYSE:GEFFree Report) – Stock analysts at Zacks Research boosted their Q3 2024 EPS estimates for Greif in a research note issued on Tuesday, June 4th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings per share of $0.97 for the quarter, up from their previous forecast of $0.96. The consensus estimate for Greif’s current full-year earnings is $4.00 per share. Zacks Research also issued estimates for Greif’s Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $3.63 EPS, Q2 2025 earnings at $1.31 EPS, Q3 2025 earnings at $1.37 EPS, Q4 2025 earnings at $1.24 EPS, FY2025 earnings at $4.89 EPS, Q1 2026 earnings at $1.20 EPS, Q2 2026 earnings at $1.29 EPS and FY2026 earnings at $5.22 EPS.

Greif (NYSE:GEFGet Free Report) last posted its earnings results on Wednesday, June 5th. The industrial products company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Greif had a net margin of 6.53% and a return on equity of 18.65%. Greif’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $1.77 earnings per share.

Separately, Truist Financial started coverage on Greif in a research note on Thursday, April 18th. They set a “hold” rating and a $71.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Greif presently has an average rating of “Moderate Buy” and an average target price of $77.25.

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Greif Trading Down 2.6 %

Shares of Greif stock opened at $61.38 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 1.09. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.58 and a beta of 0.89. Greif has a twelve month low of $60.03 and a twelve month high of $76.00. The business has a 50-day moving average price of $63.94 and a 200-day moving average price of $64.46.

Hedge Funds Weigh In On Greif

Several institutional investors have recently bought and sold shares of GEF. Avantax Advisory Services Inc. lifted its holdings in Greif by 4.1% during the third quarter. Avantax Advisory Services Inc. now owns 4,445 shares of the industrial products company’s stock worth $297,000 after buying an additional 174 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of Greif by 3.6% during the 1st quarter. Verdence Capital Advisors LLC now owns 5,109 shares of the industrial products company’s stock worth $353,000 after purchasing an additional 178 shares during the last quarter. Meritage Portfolio Management boosted its position in Greif by 5.4% during the fourth quarter. Meritage Portfolio Management now owns 3,609 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 186 shares in the last quarter. Cadence Wealth Management LLC grew its stake in Greif by 5.1% in the fourth quarter. Cadence Wealth Management LLC now owns 3,999 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 193 shares during the last quarter. Finally, Atria Wealth Solutions Inc. raised its holdings in Greif by 4.4% in the third quarter. Atria Wealth Solutions Inc. now owns 4,600 shares of the industrial products company’s stock worth $310,000 after purchasing an additional 195 shares in the last quarter. 45.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Greif

In other news, VP Gary R. Martz purchased 1,807 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were bought at an average cost of $68.37 per share, for a total transaction of $123,544.59. Following the acquisition, the vice president now owns 23,100 shares of the company’s stock, valued at approximately $1,579,347. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Greif news, VP Gary R. Martz bought 4,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were bought at an average cost of $68.98 per share, for a total transaction of $275,920.00. Following the acquisition, the vice president now directly owns 17,018 shares in the company, valued at $1,173,901.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gary R. Martz purchased 1,807 shares of Greif stock in a transaction dated Monday, April 8th. The stock was acquired at an average price of $68.37 per share, with a total value of $123,544.59. Following the acquisition, the vice president now owns 23,100 shares in the company, valued at approximately $1,579,347. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 22,141 shares of company stock worth $1,505,933 and have sold 6,000 shares worth $384,620. Company insiders own 3.07% of the company’s stock.

Greif Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Tuesday, June 18th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $2.08 annualized dividend and a yield of 3.39%. Greif’s payout ratio is currently 35.99%.

Greif Company Profile

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Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. The company operates through Global Industrial Packaging; Paper Packaging & Services; and Land Management segments. 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.

See Also

Earnings History and Estimates for Greif (NYSE:GEF)

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