Greif Bros. Corporation (GEF) Releases FY17 Earnings Guidance
Greif Bros. Corporation (NYSE:GEF) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.81-2.95 for the period, compared to the Thomson Reuters consensus estimate of $2.88.
Greif Bros. Corporation (GEF) traded up 1.94% during trading on Wednesday, reaching $57.69. 300,698 shares of the company traded hands. Greif Bros. Corporation has a 52 week low of $41.79 and a 52 week high of $63.04. The company has a market capitalization of $2.76 billion, a P/E ratio of 28.73 and a beta of 1.37. The firm has a 50-day moving average price of $56.50 and a 200-day moving average price of $56.43.
Greif Bros. Corporation (NYSE:GEF) last released its quarterly earnings results on Wednesday, August 30th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $961.80 million during the quarter, compared to the consensus estimate of $901.76 million. Greif Bros. Corporation had a return on equity of 16.17% and a net margin of 2.81%. The business’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. Analysts forecast that Greif Bros. Corporation will post $2.89 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Monday, September 18th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Friday, September 15th. Greif Bros. Corporation’s dividend payout ratio is presently 103.07%.
A number of analysts recently commented on the company. BMO Capital Markets reiterated a hold rating and set a $55.00 price objective on shares of Greif Bros. Corporation in a research report on Thursday, August 17th. BidaskClub upgraded Greif Bros. Corporation from a sell rating to a hold rating in a research report on Tuesday, July 11th. Bank of America Corporation set a $60.00 price objective on Greif Bros. Corporation and gave the stock a buy rating in a research report on Saturday, June 10th. Robert W. Baird reiterated an outperform rating and set a $63.00 price objective on shares of Greif Bros. Corporation in a research report on Sunday, June 11th. Finally, ValuEngine upgraded Greif Bros. Corporation from a hold rating to a buy rating in a research report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Greif Bros. Corporation currently has a consensus rating of Hold and a consensus price target of $56.50.
In other Greif Bros. Corporation news, major shareholder Shannon J. Diener purchased 5,189 shares of the stock in a transaction on Thursday, July 6th. The stock was bought at an average price of $62.37 per share, for a total transaction of $323,637.93. Following the acquisition, the insider now directly owns 10,189 shares of the company’s stock, valued at $635,487.93. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 16.37% of the stock is owned by insiders.
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Greif Bros. Corporation 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.
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