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

Greif, Inc. (NYSE:GEF) – Research analysts at Zacks Research boosted their FY2024 EPS estimates for Greif in a report released on Wednesday, June 26th. Zacks Research analyst M. Das now expects that the industrial products company will earn $4.16 per share for the year, up from their prior forecast 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.

Several other equities research analysts also recently weighed in on the stock. Truist Financial assumed coverage on shares of Greif in a research note on Thursday, April 18th. They issued a “hold” rating and a $71.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Greif from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, June 7th. Bank of America upgraded shares of Greif from a “neutral” rating to a “buy” rating and upped their price target for the stock from $76.00 to $77.00 in a report on Monday, June 17th. Finally, StockNews.com cut shares of Greif from a “buy” rating to a “hold” rating in a report on Friday, June 7th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.50.

Greif Trading Down 2.8 %

Shares of GEF opened at $57.47 on Monday. Greif has a twelve month low of $56.89 and a twelve month high of $76.00. The company has a market cap of $2.71 billion, a P/E ratio of 12.36 and a beta of 0.89. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 1.38. The company’s fifty day simple moving average is $62.62 and its 200-day simple moving average is $63.70.

Greif (NYSE:GEF) last released its quarterly earnings results on Wednesday, June 5th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Greif had a net margin of 5.17% and a return on equity of 15.57%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. Greif’s revenue was up 4.7% on a year-over-year basis.

Institutional Investors Weigh In On Greif

A number of hedge funds and other institutional investors have recently made changes to their positions in GEF. Kestra Advisory Services LLC purchased a new position in shares of Greif in the third quarter valued at approximately $213,000. Invesco Ltd. raised its stake in Greif by 2.6% in the third quarter. Invesco Ltd. now owns 281,266 shares of the industrial products company’s stock valued at $18,791,000 after buying an additional 7,202 shares in the last quarter. Hsbc Holdings PLC grew its stake in Greif by 197.0% during the 3rd quarter. Hsbc Holdings PLC now owns 11,654 shares of the industrial products company’s stock worth $784,000 after buying an additional 7,730 shares during the last quarter. Trexquant Investment LP acquired a new stake in Greif during the 3rd quarter worth $751,000. Finally, Gotham Asset Management LLC grew its position in Greif by 8.1% during the 3rd quarter. Gotham Asset Management LLC now owns 7,054 shares of the industrial products company’s stock worth $471,000 after purchasing an additional 530 shares during the last quarter. Institutional investors and hedge funds own 45.74% of the company’s stock.

Insider Transactions at Greif

In other Greif news, VP Gary R. Martz bought 1,807 shares of the company’s stock in a transaction on Monday, April 8th. The shares were bought at an average cost of $68.37 per share, for a total transaction of $123,544.59. Following the acquisition, the vice president now directly owns 23,100 shares in the company, valued at $1,579,347. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Gary R. Martz purchased 1,807 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was acquired at an average cost of $68.37 per share, with a total value of $123,544.59. Following the completion of the transaction, the vice president now owns 23,100 shares in the company, valued at approximately $1,579,347. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Gary R. Martz acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was bought at an average cost of $68.98 per share, with a total value of $275,920.00. Following the completion of the transaction, the vice president now directly owns 17,018 shares in the company, valued at $1,173,901.64. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 7,732 shares of company stock worth $532,020. 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. Stockholders of record on Tuesday, June 18th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Tuesday, June 18th. Greif’s payout ratio is presently 44.73%.

Greif Company Profile

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.