Greif (GEF) Hits New 12-Month Low After Earnings Miss

Greif, Inc. (NYSE:GEF) shares reached a new 52-week low during trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $43.04 and last traded at $44.08, with a volume of 13842 shares. The stock had previously closed at $49.92.

The industrial products company reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.11). The firm had revenue of $987.70 million during the quarter, compared to the consensus estimate of $1.02 billion. Greif had a return on equity of 18.10% and a net margin of 5.26%.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Tuesday, December 18th will be given a $0.44 dividend. The ex-dividend date of this dividend is Monday, December 17th. This represents a $1.76 dividend on an annualized basis and a yield of 3.91%. Greif’s payout ratio is 59.66%.

A number of analysts recently weighed in on the company. Zacks Investment Research downgraded Greif from a “hold” rating to a “sell” rating in a research report on Monday. Wells Fargo & Co set a $65.00 target price on Greif and gave the stock a “buy” rating in a research report on Thursday, October 18th. Finally, KeyCorp reiterated a “sell” rating and issued a $50.00 price objective on shares of Greif in a research report on Thursday, August 30th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $62.43.

Hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd lifted its position 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 valued at $107,000 after purchasing an additional 1,313 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Greif in the second quarter valued at approximately $162,000. Commonwealth Bank of Australia bought a new stake in Greif in the third quarter valued at approximately $241,000. Vident Investment Advisory LLC bought a new stake in Greif in the third quarter valued at approximately $241,000. Finally, Acadian Asset Management LLC lifted its position in Greif by 2,472.1% in the second quarter. Acadian Asset Management LLC now owns 4,887 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 4,697 shares during the last quarter. Hedge funds and other institutional investors own 48.21% of the company’s stock.

The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.88. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 1.48 and a beta of 1.30.

ILLEGAL ACTIVITY NOTICE: This article was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another website, it was illegally stolen and republished in violation of international copyright and trademark laws. The legal version of this article can be read at https://www.dispatchtribunal.com/2018/12/07/greif-gef-hits-new-12-month-low-after-earnings-miss.html.

About Greif (NYSE:GEF)

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.

Recommended Story: Compound Interest and Why It Matters When Investing

Receive News & Ratings for Greif Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Greif and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply