Zacks Research Comments on Greif, Inc.’s FY2024 Earnings (NYSE:GEF)

Greif, Inc. (NYSE:GEF) – Equities research analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Greif in a report issued on Wednesday, June 26th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings of $4.16 per share for the year, up from their previous estimate 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.

Other research analysts have also issued reports about the company. StockNews.com lowered Greif from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Truist Financial initiated coverage on Greif in a research note on Thursday, April 18th. They issued a “hold” rating and a $71.00 target price for the company. Bank of America upgraded Greif from a “neutral” rating to a “buy” rating and upped their target price for the company from $76.00 to $77.00 in a research note on Monday, June 17th. Finally, Wells Fargo & Company upped their target price on Greif from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, June 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.50.

Greif Stock Down 2.8 %

Shares of GEF stock opened at $57.47 on Monday. Greif has a 12 month low of $56.89 and a 12 month high of $76.00. The firm has a market cap of $2.71 billion, a PE ratio of 12.36 and a beta of 0.89. The stock has a 50 day moving average of $62.62 and a 200-day moving average of $63.70. 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 (NYSE:GEF) last posted its earnings results on Wednesday, June 5th. The industrial products company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. Greif had a return on equity of 15.57% and a net margin of 5.17%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company earned $1.77 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis.

Hedge Funds Weigh In On Greif

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

Insider Buying and Selling at Greif

In other Greif news, VP Gary R. Martz bought 4,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were bought at an average price of $68.98 per share, for a total transaction of $275,920.00. Following the completion of the acquisition, the vice president now owns 17,018 shares of the company’s stock, valued at $1,173,901.64. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Greif news, VP Gary R. Martz bought 1,807 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were bought at an average price of $68.37 per share, for a total transaction of $123,544.59. Following the completion of the acquisition, the vice president now owns 23,100 shares of the company’s stock, valued at $1,579,347. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Gary R. Martz bought 4,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $1,173,901.64. The disclosure for this purchase can be found here. Insiders have purchased 7,732 shares of company stock worth $532,020 over the last three months. Company insiders own 3.07% of the company’s stock.

Greif Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Tuesday, June 18th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Tuesday, June 18th. Greif’s dividend payout ratio (DPR) is 44.73%.

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.