Greif, Inc. to Post Q4 2018 Earnings of $0.90 Per Share, KeyCorp Forecasts (GEF)
Greif, Inc. (NYSE:GEF) – Investment analysts at KeyCorp upped their Q4 2018 EPS estimates for Greif in a research report issued to clients and investors on Thursday. KeyCorp analyst A. Josephson now anticipates that the industrial products company will earn $0.90 per share for the quarter, up from their previous estimate of $0.77. KeyCorp has a “Sell” rating and a $47.00 price objective on the stock.
Several other research firms have also commented on GEF. DA Davidson upgraded Greif from a “neutral” rating to a “buy” rating and set a $74.00 price target for the company in a research report on Thursday, December 7th. Bank of America upgraded Greif from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Tuesday, January 2nd. They noted that the move was a valuation call. Robert W. Baird restated a “buy” rating and set a $66.00 price target on shares of Greif in a research report on Friday, November 10th. BMO Capital Markets restated a “hold” rating and set a $55.00 price target on shares of Greif in a research report on Friday, November 24th. Finally, Zacks Investment Research lowered Greif from a “hold” rating to a “sell” rating in a research report on Thursday, November 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $64.00.
Greif (NYSE:GEF) last released its quarterly earnings results on Wednesday, February 28th. The industrial products company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.17). Greif had a return on equity of 16.63% and a net margin of 4.56%. The firm had revenue of $905.70 million for the quarter, compared to analysts’ expectations of $867.24 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. acquired a new stake in shares of Greif in the third quarter valued at $216,000. ING Groep NV acquired a new stake in shares of Greif in the fourth quarter valued at $236,000. Quantbot Technologies LP raised its stake in shares of Greif by 3,048.2% in the third quarter. Quantbot Technologies LP now owns 4,376 shares of the industrial products company’s stock valued at $256,000 after acquiring an additional 4,237 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Greif in the fourth quarter valued at $354,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Greif in the fourth quarter valued at $380,000. Institutional investors and hedge funds own 50.31% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Monday, March 19th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, March 16th. Greif’s payout ratio is currently 58.33%.
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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.
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