Wells Fargo & Co set a $40.00 target price on Greif (NYSE:GEF) in a research report sent to investors on Friday morning, TipRanks reports. The brokerage currently has a hold rating on the industrial products company’s stock.
A number of other equities research analysts have also weighed in on the stock. Bank of America set a $37.00 target price on shares of Greif and gave the company a sell rating in a research note on Friday. KeyCorp reaffirmed a sell rating and set a $31.00 target price on shares of Greif in a research note on Thursday, February 28th. Finally, Zacks Investment Research lowered shares of Greif from a hold rating to a sell rating in a research note on Tuesday, May 7th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock presently has an average rating of Sell and an average target price of $36.88.
Shares of GEF opened at $34.27 on Friday. The stock has a market cap of $1.65 billion, a PE ratio of 9.71, a P/E/G ratio of 1.08 and a beta of 1.50. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.29 and a current ratio of 1.67. Greif has a 1-year low of $31.80 and a 1-year high of $59.48.
Greif (NYSE:GEF) last announced its earnings results on Wednesday, June 5th. The industrial products company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.02. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.24 billion. Greif had a net margin of 3.68% and a return on equity of 19.11%. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 EPS. Research analysts expect that Greif will post 3.8 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Tuesday, June 18th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date is Monday, June 17th. Greif’s payout ratio is 49.86%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC lifted its position in Greif by 413.5% during the 4th quarter. Millennium Management LLC now owns 159,454 shares of the industrial products company’s stock valued at $5,917,000 after acquiring an additional 128,399 shares during the period. IndexIQ Advisors LLC purchased a new position in Greif during the 1st quarter valued at about $1,563,000. Laurel Wealth Advisors LLC purchased a new position in Greif during the 4th quarter valued at about $26,000. Texas Permanent School Fund lifted its position in Greif by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 16,975 shares of the industrial products company’s stock valued at $630,000 after acquiring an additional 653 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in Greif by 5.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 6,591 shares of the industrial products company’s stock valued at $245,000 after acquiring an additional 345 shares during the period. 48.06% of the stock is owned by institutional investors.
Greif, Inc produces and sells industrial packaging products and services worldwide. It operates through four segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management. The Rigid Industrial Packaging & Services segment offers rigid industrial packaging products, including steel, fiber, and plastic drums; rigid intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and services, such as container life cycle management, filling, logistics, warehousing, and other packaging services.
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