Analysts Expect Greif, Inc. (GEF) Will Announce Quarterly Sales of $934.99 Million
Brokerages expect Greif, Inc. (NYSE:GEF) to report sales of $934.99 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Greif’s earnings. The lowest sales estimate is $918.70 million and the highest is $949.30 million. Greif posted sales of $867.60 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.8%. The business is scheduled to issue its next earnings report after the market closes on Wednesday, December 6th.
According to Zacks, analysts expect that Greif will report full-year sales of $934.99 million for the current financial year, with estimates ranging from $3.59 billion to $3.62 billion. For the next year, analysts anticipate that the firm will report sales of $3.70 billion per share, with estimates ranging from $3.64 billion to $3.75 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Greif.
Greif (NYSE:GEF) last posted its quarterly earnings data on Wednesday, August 30th. The industrial products company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. The company had revenue of $961.80 million during the quarter, compared to analysts’ expectations of $901.76 million. Greif had a return on equity of 17.50% and a net margin of 4.91%. Greif’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share.
GEF has been the topic of several analyst reports. BMO Capital Markets reiterated a “hold” rating and set a $55.00 target price on shares of Greif in a report on Thursday, August 17th. Bank of America Corporation lowered Greif from a “buy” rating to a “neutral” rating and upped their target price for the stock from $60.45 to $63.00 in a report on Friday, September 1st. Robert W. Baird reiterated a “buy” rating and set a $66.00 target price on shares of Greif in a report on Friday, September 1st. Finally, KeyCorp reiterated a “sell” rating on shares of Greif in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $57.00.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another website, it was copied illegally and reposted in violation of US and international trademark and copyright legislation. The original version of this piece of content can be read at https://www.watchlistnews.com/analysts-expect-greif-inc-gef-will-announce-quarterly-sales-of-934-99-million/1718605.html.
A number of large investors have recently added to or reduced their stakes in GEF. GSA Capital Partners LLP raised its stake in Greif by 150.9% in the third quarter. GSA Capital Partners LLP now owns 86,007 shares of the industrial products company’s stock valued at $5,035,000 after buying an additional 51,726 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Greif by 19.0% during the first quarter. Goldman Sachs Group Inc. now owns 150,861 shares of the industrial products company’s stock worth $8,311,000 after purchasing an additional 24,058 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Greif by 477.2% during the third quarter. Public Employees Retirement System of Ohio now owns 25,450 shares of the industrial products company’s stock worth $1,490,000 after purchasing an additional 21,041 shares during the period. Mondrian Investment Partners LTD increased its stake in shares of Greif by 21.0% during the second quarter. Mondrian Investment Partners LTD now owns 64,244 shares of the industrial products company’s stock worth $3,584,000 after purchasing an additional 11,166 shares during the period. Finally, Quantbot Technologies LP increased its stake in shares of Greif by 3,048.2% during the third quarter. Quantbot Technologies LP now owns 4,376 shares of the industrial products company’s stock worth $256,000 after purchasing an additional 4,237 shares during the period. Hedge funds and other institutional investors own 47.87% of the company’s stock.
Greif (NYSE:GEF) traded up $0.23 during mid-day trading on Friday, hitting $52.96. The stock had a trading volume of 125,306 shares, compared to its average volume of 210,715. The company has a quick ratio of 1.10, a current ratio of 1.56 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $2,700.00, a PE ratio of 20.06, a P/E/G ratio of 1.77 and a beta of 1.32. Greif has a 52 week low of $50.70 and a 52 week high of $63.04.
Greif Company Profile
Greif, Inc is a producer of industrial packaging products and services. The Company’s segments are Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services, and Land Management. The Rigid Industrial Packaging & Services segment is engaged in the production and sale of rigid industrial packaging products, and services, such as container life cycle management, filling, logistics, warehousing and other packaging services.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Greif Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Greif Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.