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.

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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.

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