Greif (NYSE:GEF) Releases Quarterly Earnings Results, Misses Expectations By $0.23 EPS

Greif (NYSE:GEF) released its quarterly earnings data on Wednesday. The industrial products company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.23), Zacks reports. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Greif had a net margin of 4.99% and a return on equity of 13.28%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.56 earnings per share.

Greif Stock Up 0.4 %

Shares of NYSE GEF traded up $0.29 during midday trading on Wednesday, hitting $71.50. The stock had a trading volume of 173,047 shares, compared to its average volume of 168,023. The business’s 50 day moving average is $65.42 and its 200-day moving average is $62.96. The company has a market cap of $3.37 billion, a P/E ratio of 15.48 and a beta of 0.92. Greif has a 52 week low of $55.95 and a 52 week high of $73.16. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 1.35.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GEF. Sidoti began coverage on shares of Greif in a report on Wednesday, November 20th. They set a “buy” rating and a $93.00 price objective for the company. Truist Financial reaffirmed a “hold” rating and set a $67.00 price objective (down from $69.00) on shares of Greif in a research note on Friday, August 30th. Stifel Nicolaus reiterated a “buy” rating and set a $88.00 price target on shares of Greif in a research report on Monday, August 26th. Bank of America reduced their price target on shares of Greif from $77.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Finally, Wells Fargo & Company reduced their price target on shares of Greif from $80.00 to $76.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.40.

Greif Company Profile

Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. The company operates through Global Industrial Packaging; Paper Packaging & Services; and Land Management segments. The Global Industrial Packaging segment produces and sells industrial packaging products, including steel, fiber, and plastic drums; rigid and flexible intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing, and other packaging services to chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral product, and other industries.