Greif Bros. (GEF) Releases Earnings Results, Beats Expectations By $0.09 EPS
Greif Bros. (NYSE:GEF) posted its quarterly earnings data on Wednesday. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.09, Bloomberg Earnings reports. The business had revenue of $968.00 million during the quarter, compared to the consensus estimate of $931.96 million. Greif Bros. had a return on equity of 15.49% and a net margin of 2.65%. Greif Bros.’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. Greif Bros. updated its FY18 guidance to $3.25-3.55 EPS.
Shares of Greif Bros. (NYSE:GEF) traded up $0.05 during midday trading on Thursday, reaching $54.83. The company’s stock had a trading volume of 246,000 shares, compared to its average volume of 211,135. The firm has a market cap of $2,620.78, a PE ratio of 20.91, a PEG ratio of 1.84 and a beta of 1.29. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.56 and a quick ratio of 1.10. Greif Bros. has a 52-week low of $50.70 and a 52-week high of $63.04.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Monday, December 18th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, December 15th. This represents a $1.68 annualized dividend and a yield of 3.06%. Greif Bros.’s dividend payout ratio is presently 105.66%.
A number of research analysts recently issued reports on GEF shares. BMO Capital Markets reiterated a “hold” rating and set a $55.00 price objective on shares of Greif Bros. in a report on Thursday, August 17th. Bank of America cut Greif Bros. from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $60.45 to $63.00 in a report on Friday, September 1st. Robert W. Baird reissued a “buy” rating and set a $66.00 price target on shares of Greif Bros. in a report on Friday, September 1st. KeyCorp reissued a “sell” rating on shares of Greif Bros. in a report on Friday, November 10th. Finally, Zacks Investment Research cut Greif Bros. from a “hold” rating to a “sell” rating in a report on Thursday, November 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $57.00.
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Greif Bros. 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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