Sidoti Initiates Coverage on Greif, Inc. (GEF)
Research analysts at Sidoti began coverage on shares of Greif, Inc. (NYSE:GEF) in a research report issued on Friday. The brokerage set a “buy” rating on the stock.
A number of other research firms have also issued reports on GEF. Zacks Investment Research upgraded shares of Greif from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, January 16th. Wells Fargo & Co lowered shares of Greif from an “outperform” rating to a “market perform” rating in a research note on Monday, November 21st. They noted that the move was a valuation call. Bank of America Corp upgraded shares of Greif from a “neutral” rating to a “buy” rating in a research note on Friday, January 27th. KeyCorp reiterated a “hold” rating on shares of Greif in a research note on Sunday, February 19th. Finally, Robert W. Baird upgraded shares of Greif from a “neutral” rating to an “outperform” rating and set a $58.00 target price on the stock in a research note on Wednesday, January 4th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $52.00.
Shares of Greif (NYSE:GEF) opened at 57.50 on Friday. The company’s 50-day moving average is $56.56 and its 200 day moving average is $52.09. Greif has a 1-year low of $30.33 and a 1-year high of $60.55. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 30.07 and a beta of 1.51.
Greif (NYSE:GEF) last posted its earnings results on Wednesday, March 1st. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by $0.05. Greif had a net margin of 2.25% and a return on equity of 14.62%. The firm earned $820.90 million during the quarter, compared to analyst estimates of $802.04 million. During the same quarter in the previous year, the business posted $0.40 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts expect that Greif will post $2.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, April 1st. Shareholders of record on Friday, March 17th will be given a $0.42 dividend. The ex-dividend date is Wednesday, March 15th. This represents a $1.68 annualized dividend and a yield of 2.92%. Greif’s dividend payout ratio is 133.33%.
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Hedge funds have recently bought and sold shares of the company. Heartland Advisors Inc. bought a new stake in Greif during the third quarter valued at about $3,192,000. Acadian Asset Management LLC raised its stake in Greif by 50.6% in the third quarter. Acadian Asset Management LLC now owns 122,078 shares of the company’s stock valued at $6,053,000 after buying an additional 41,006 shares in the last quarter. Hancock Holding Co. raised its stake in Greif by 313.4% in the third quarter. Hancock Holding Co. now owns 99,971 shares of the company’s stock valued at $4,957,000 after buying an additional 75,790 shares in the last quarter. Gotham Asset Management LLC raised its stake in Greif by 4.4% in the third quarter. Gotham Asset Management LLC now owns 253,233 shares of the company’s stock valued at $12,558,000 after buying an additional 10,747 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in Greif during the fourth quarter valued at about $564,000. Institutional investors own 48.91% of the company’s stock.
Greif, Inc is a producer of industrial packaging products and services. The Company’s segments are Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services, and Land Management. The Rigid Industrial Packaging & Services segment is engaged in the production and sale of rigid industrial packaging products, and services, such as container life cycle management, filling, logistics, warehousing and other packaging services.
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