Greif, Inc. to Post Q3 2024 Earnings of $1.11 Per Share, Zacks Research Forecasts (NYSE:GEF)

Greif, Inc. (NYSE:GEF) – Analysts at Zacks Research raised their Q3 2024 earnings per share (EPS) estimates for Greif in a report issued on Wednesday, June 26th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings of $1.11 per share for the quarter, up from their previous estimate of $0.97. The consensus estimate for Greif’s current full-year earnings is $4.27 per share. Zacks Research also issued estimates for Greif’s Q1 2025 earnings at $0.85 EPS, Q2 2025 earnings at $1.28 EPS, Q4 2025 earnings at $1.38 EPS, Q2 2026 earnings at $1.28 EPS and FY2026 earnings at $5.25 EPS.

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

Other analysts have also recently issued research reports about the company. Wells Fargo & Company lifted their price objective on Greif from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, June 7th. Truist Financial assumed coverage on Greif in a research note on Thursday, April 18th. They issued a “hold” rating and a $71.00 price target for the company. StockNews.com lowered shares of Greif from a “buy” rating to a “hold” rating in a research report on Friday, June 7th. 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 report on Monday, June 17th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

Greif Trading Down 1.2 %

Shares of NYSE:GEF opened at $59.13 on Friday. The firm has a fifty day moving average of $62.70 and a two-hundred day moving average of $63.75. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 1.38. Greif has a 12-month low of $58.65 and a 12-month high of $76.00. The firm has a market capitalization of $2.79 billion, a P/E ratio of 12.72 and a beta of 0.89.

Greif Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Tuesday, June 18th will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 18th. This represents a $2.08 dividend on an annualized basis and a yield of 3.52%. Greif’s payout ratio is currently 44.73%.

Insider Buying and Selling at Greif

In other news, VP Gary R. Martz acquired 1,925 shares of Greif stock in a transaction dated Tuesday, April 2nd. The stock was acquired at an average cost of $68.86 per share, for a total transaction of $132,555.50. Following the completion of the purchase, the vice president now owns 10,025 shares of the company’s stock, valued at $690,321.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Greif news, VP Gary R. Martz acquired 1,807 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were acquired at an average cost of $68.37 per share, for a total transaction of $123,544.59. Following the completion of the purchase, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gary R. Martz bought 1,925 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were acquired at an average price of $68.86 per share, with a total value of $132,555.50. Following the purchase, the vice president now owns 10,025 shares in the company, valued at $690,321.50. The disclosure for this purchase can be found here. Insiders have purchased a total of 7,732 shares of company stock worth $532,020 over the last 90 days. Insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Greif

A number of institutional investors and hedge funds have recently bought and sold shares of GEF. Verdence Capital Advisors LLC grew its position in Greif by 3.6% in 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 grew 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 worth $237,000 after buying an additional 186 shares in the last quarter. Cadence Wealth Management LLC increased its stake in Greif by 5.1% during the fourth quarter. Cadence Wealth Management LLC now owns 3,999 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 193 shares during the period. ProShare Advisors LLC raised its holdings in Greif by 4.6% in the 1st quarter. ProShare Advisors LLC now owns 5,616 shares of the industrial products company’s stock valued at $388,000 after acquiring an additional 246 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Greif by 4.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 8,375 shares of the industrial products company’s stock worth $549,000 after acquiring an additional 376 shares during the period. Institutional investors own 45.74% of the company’s stock.

About Greif

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.