Sidoti Initiates Coverage on Greif, Inc. (GEF)
Analysts at Sidoti started coverage on shares of Greif, Inc. (NYSE:GEF) in a research note issued on Friday. The firm set a “buy” rating on the stock.
Several other analysts have also issued reports on the stock. BMO Capital Markets raised shares of Greif from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $48.00 to $51.00 in a research report on Thursday, March 9th. Wells Fargo & Co raised shares of Greif from a “market perform” rating to an “outperform” rating in a research report on Monday, March 6th. DA Davidson raised shares of Greif from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $47.00 to $54.00 in a research report on Friday, March 3rd. KeyCorp reaffirmed a “hold” rating on shares of Greif in a research report on Sunday, February 19th. Finally, Zacks Investment Research lowered shares of Greif from a “buy” rating to a “hold” rating in a research report on Wednesday, February 8th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Greif currently has an average rating of “Buy” and a consensus target price of $52.00.
Shares of Greif (NYSE:GEF) opened at 57.50 on Friday. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 30.07 and a beta of 1.51. The stock’s 50 day moving average is $56.56 and its 200 day moving average is $52.09. Greif has a 12 month low of $30.33 and a 12 month high of $60.55.
Greif (NYSE:GEF) last posted its quarterly earnings results on Wednesday, March 1st. The company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.05. Greif had a return on equity of 14.62% and a net margin of 2.25%. The firm had revenue of $820.90 million for the quarter, compared to the consensus estimate of $802.04 million. During the same period last year, the company posted $0.40 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts forecast that Greif will post $2.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 17th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, March 15th. Greif’s payout ratio is presently 133.33%.
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Several institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Greif during the fourth quarter valued at $15,520,000. JPMorgan Chase & Co. raised its position in shares of Greif by 18,411.2% in the third quarter. JPMorgan Chase & Co. now owns 102,922 shares of the company’s stock valued at $5,105,000 after buying an additional 102,366 shares during the last quarter. Hancock Holding Co. raised its position in shares of Greif by 313.4% in the third quarter. Hancock Holding Co. now owns 99,971 shares of the company’s stock valued at $4,957,000 after buying an additional 75,790 shares during the last quarter. Heartland Advisors Inc. bought a new position in shares of Greif during the third quarter valued at $3,192,000. Finally, Acadian Asset Management LLC raised its position in shares of Greif by 50.6% in the third quarter. Acadian Asset Management LLC now owns 122,078 shares of the company’s stock valued at $6,053,000 after buying an additional 41,006 shares during the last quarter. 48.91% of the stock is currently owned by institutional investors.
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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