FY2024 EPS Estimates for Greif, Inc. (NYSE:GEF) Lifted by Zacks Research

Greif, Inc. (NYSE:GEF) – Stock analysts at Zacks Research upped their FY2024 earnings estimates for Greif in a research report issued on Wednesday, June 26th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings of $4.16 per share for the year, up from their prior forecast of $3.63. The consensus estimate for Greif’s current full-year earnings is $4.40 per share. Zacks Research also issued estimates for Greif’s Q4 2024 earnings at $0.96 EPS, Q3 2025 earnings at $1.45 EPS, FY2025 earnings at $4.97 EPS and Q1 2026 earnings at $1.16 EPS.

Greif (NYSE:GEF) last issued its quarterly earnings data on Wednesday, June 5th. The industrial products company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.30 billion. Greif had a net margin of 5.17% and a return on equity of 15.57%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.77 earnings per share.

A number of other research analysts also recently weighed in on GEF. Wells Fargo & Company upped their price objective on shares of Greif from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, June 7th. StockNews.com cut shares of Greif from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Truist Financial began coverage on shares of Greif in a research note on Thursday, April 18th. They set a “hold” rating and a $71.00 target price for the company. Finally, Bank of America raised shares of Greif from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $76.00 to $77.00 in a research note on Monday, June 17th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.50.

Greif Trading Down 1.1 %

Shares of Greif stock opened at $56.85 on Monday. The firm has a 50-day simple moving average of $62.52 and a two-hundred day simple moving average of $63.63. The company has a market cap of $2.68 billion, a P/E ratio of 12.23 and a beta of 0.92. Greif has a fifty-two week low of $56.52 and a fifty-two week high of $76.00. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.17 and a current ratio of 1.57.

Institutional Trading of Greif

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Greif by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,151 shares of the industrial products company’s stock worth $1,185,000 after acquiring an additional 886 shares during the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Greif by 133.9% in the 1st quarter. Quadrature Capital Ltd now owns 13,047 shares of the industrial products company’s stock worth $902,000 after acquiring an additional 7,468 shares during the last quarter. Mirova acquired a new position in shares of Greif in the 1st quarter worth approximately $2,597,000. ProShare Advisors LLC lifted its holdings in shares of Greif by 4.6% in the 1st quarter. ProShare Advisors LLC now owns 5,616 shares of the industrial products company’s stock worth $388,000 after acquiring an additional 246 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Greif by 24,865.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,742 shares of the industrial products company’s stock worth $396,000 after acquiring an additional 5,719 shares during the last quarter. Hedge funds and other institutional investors own 45.74% of the company’s stock.

Insider Activity at Greif

In other Greif news, VP Gary R. Martz acquired 1,807 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was bought at an average price of $68.37 per share, with a total value of $123,544.59. Following the purchase, the vice president now owns 23,100 shares in the company, valued at $1,579,347. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Gary R. Martz purchased 4,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was acquired at an average price of $68.98 per share, with a total value of $275,920.00. Following the purchase, the vice president now directly owns 17,018 shares in the company, valued at approximately $1,173,901.64. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, VP Gary R. Martz purchased 1,807 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was purchased at an average cost of $68.37 per share, with a total value of $123,544.59. Following the purchase, the vice president now owns 23,100 shares in the company, valued at $1,579,347. The disclosure for this purchase can be found here. 3.07% of the stock is owned by corporate insiders.

Greif Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Tuesday, June 18th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $2.08 annualized dividend and a yield of 3.66%. Greif’s dividend payout ratio is presently 44.73%.

Greif Company Profile

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.