Zacks Investment Research cut shares of Greif (NYSE:GEF) from a hold rating to a sell rating in a research report report published on Monday.
According to Zacks, “Greif expects its adjusted earnings per share for fiscal 2018 to be $3.53-$3.69. The company maintained capital expenditure outlook of $120-$140 million for the fiscal. Greif’s performance will be impacted by affected by the strengthening of U.S. dollar and weak agricultural sales. Further, transportation tightness in North America is impacting its in-transit inventory levels. Thus, elevated transportation costs are anticipated to remain a headwind for Greif’s Rigid Industrial Packaging & Services and Paper Packaging & Services segments. Further, the company continues to experience competitive market conditions in China. The stock has underperformed the industry over the past six months. “
GEF has been the topic of several other reports. KeyCorp reissued a sell rating and issued a $50.00 target price on shares of Greif in a research note on Thursday, August 30th. Wells Fargo & Co set a $65.00 target price on Greif and gave the stock a buy rating in a research note on Thursday, October 18th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $62.43.
NYSE GEF opened at $49.92 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $2.39 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 1.48 and a beta of 1.30. Greif has a 1 year low of $44.66 and a 1 year high of $65.60.
Greif (NYSE:GEF) last posted its earnings results on Wednesday, December 5th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.11). Greif had a return on equity of 18.10% and a net margin of 5.26%. As a group, analysts anticipate that Greif will post 3.63 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Visionary Asset Management Inc. lifted its holdings in Greif by 17.0% in the third quarter. Visionary Asset Management Inc. now owns 6,925 shares of the industrial products company’s stock worth $375,000 after buying an additional 1,005 shares during the period. Pacer Advisors Inc. lifted its holdings in Greif by 13.1% in the third quarter. Pacer Advisors Inc. now owns 8,880 shares of the industrial products company’s stock worth $477,000 after buying an additional 1,031 shares during the period. Point72 Hong Kong Ltd lifted its holdings in Greif by 191.1% in the third quarter. Point72 Hong Kong Ltd now owns 2,000 shares of the industrial products company’s stock worth $107,000 after buying an additional 1,313 shares during the period. Systematic Financial Management LP lifted its holdings in Greif by 5.7% in the third quarter. Systematic Financial Management LP now owns 25,490 shares of the industrial products company’s stock worth $1,368,000 after buying an additional 1,385 shares during the period. Finally, HGK Asset Management Inc. lifted its holdings in Greif by 19.2% in the second quarter. HGK Asset Management Inc. now owns 9,457 shares of the industrial products company’s stock worth $500,000 after buying an additional 1,525 shares during the period. Institutional investors and hedge funds own 48.21% of the company’s stock.
Greif, Inc produces and sells industrial packaging products and services worldwide. It operates in 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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