Greif, Inc. to Post Q3 2024 Earnings of $1.11 Per Share, Zacks Research Forecasts (NYSE:GEF)

Greif, Inc. (NYSE:GEF) – Research analysts at Zacks Research increased their Q3 2024 earnings per share estimates for shares of Greif in a report issued on Wednesday, June 26th. Zacks Research analyst M. Das now forecasts that the industrial products company will earn $1.11 per share for the quarter, up from their prior forecast of $0.97. The consensus estimate for Greif’s current full-year earnings is $4.27 per share. Zacks Research also issued estimates for Greif’s Q1 2025 earnings at $0.85 EPS, Q2 2025 earnings at $1.28 EPS, Q4 2025 earnings at $1.38 EPS, Q2 2026 earnings at $1.28 EPS and FY2026 earnings at $5.25 EPS.

Greif (NYSE:GEF) last issued its earnings results on Wednesday, June 5th. The industrial products company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.30 billion. Greif had a net margin of 5.17% and a return on equity of 15.57%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.77 earnings per share.

Several other equities research analysts also recently issued reports on the company. Truist Financial assumed coverage on Greif in a report on Thursday, April 18th. They issued a “hold” rating and a $71.00 price target for the company. Wells Fargo & Company increased their target price on Greif from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, June 7th. StockNews.com lowered shares of Greif from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Finally, Bank of America raised shares of Greif from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $76.00 to $77.00 in a research report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $80.50.

Greif Stock Performance

Shares of Greif stock opened at $57.47 on Friday. The stock’s fifty day simple moving average is $62.62 and its 200 day simple moving average is $63.71. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $2.71 billion, a PE ratio of 12.36 and a beta of 0.89. Greif has a 12 month low of $56.89 and a 12 month high of $76.00.

Greif Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Tuesday, June 18th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Tuesday, June 18th. Greif’s payout ratio is 44.73%.

Insiders Place Their Bets

In other Greif news, VP Gary R. Martz acquired 1,807 shares of the stock in a transaction dated Monday, April 8th. The shares were bought at an average cost of $68.37 per share, for a total transaction of $123,544.59. Following the completion of the acquisition, the vice president now directly owns 23,100 shares of the company’s stock, valued at $1,579,347. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Gary R. Martz acquired 1,807 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was bought at an average price of $68.37 per share, for a total transaction of $123,544.59. Following the acquisition, the vice president now directly owns 23,100 shares of the company’s stock, valued at $1,579,347. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gary R. Martz bought 4,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was bought at an average cost of $68.98 per share, for a total transaction of $275,920.00. Following the transaction, the vice president now owns 17,018 shares of the company’s stock, valued at approximately $1,173,901.64. The disclosure for this purchase can be found here. Insiders bought a total of 7,732 shares of company stock valued at $532,020 in the last quarter. 3.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Greif

Large investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC acquired a new stake in Greif in the third quarter valued at $213,000. Invesco Ltd. lifted its stake in Greif by 2.6% in the 3rd quarter. Invesco Ltd. now owns 281,266 shares of the industrial products company’s stock valued at $18,791,000 after purchasing an additional 7,202 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Greif by 197.0% during the third quarter. Hsbc Holdings PLC now owns 11,654 shares of the industrial products company’s stock worth $784,000 after purchasing an additional 7,730 shares during the period. Trexquant Investment LP acquired a new position in Greif during the third quarter worth approximately $751,000. Finally, Gotham Asset Management LLC raised its stake in Greif by 8.1% in the third quarter. Gotham Asset Management LLC now owns 7,054 shares of the industrial products company’s stock valued at $471,000 after buying an additional 530 shares during the period. Institutional investors and hedge funds own 45.74% of the company’s stock.

About Greif

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.