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.

Earnings History and Estimates for Greif Bros. Corporation (NYSE:GEF)

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