In the wee hours of Wednesday morning, Greif (NYSE: GEF-Get Rating) announced an increase in the profitability forecast it had previously provided for the next fiscal year, 2022. The earnings forecast for the quarter provided by the firm ranged from $7.90 to $8.00 per share, which was much better than the average guess of $7.62 per share. In addition, the corporation did some forecasting concerning its total revenue.
The Greif (NYSE: GEF-Get Rating) provided the details of its investigation in a report made available to the general public on August 31. Earnings per share for the industrial goods division came in at $2.35 for the quarter, which was $0.35 more than the analysts’ consensus expectation of $2.00 per share for earnings. Greif achieved a return on equity of 29.00% while maintaining a net margin of 5.93% for the company.
The revenue for the quarter came in at $1.62 billion, which was much more than the experts’ average forecast of $1.60 billion for the amount of revenue that would be generated during the quarter. The company reported $1.93 per share earnings in the prior year’s financial statements for the same quarter. The revenue brought in by Greif during the third quarter was up 8.8% compared to the previous year’s period. In the current fiscal year, it is anticipated that Greif’s earnings will come in at $8.01 per share. In addition, the organization has disclosed that it will disburse a quarterly dividend beginning on October 1, as stated in the announcement. Such shareholders who were “documented” as possessing their shares as of September 16 will be eligible to receive dividend payments of $0.50 per share, which will be distributed to those shareholders. The previous dividend that Greif distributed quarterly was $0.46; this one, however, is more than that dividend. September 15, which is a Thursday, is the date that will mark the beginning of the “ex-dividend” status for this dividend.
Consequently, the annual dividend payout will be $2, and the dividend yield will be 3.12%. Greif’s dividend payout ratio currently stands at 31.40%, having been there for some time.
When trading on Wednesday began, the price of GEF had reached $64.11 per share. The company features a variety of qualities, some of which are shown below: a market value of $3.05 billion, a P/E ratio of 10.06; a PEG ratio of 0.84; and a beta value of 0.93. Greif’s year began with him having 53.65 dollars, ending with him having 72.79 dollars. His lowest point was 53.65 dollars. The price of the stock’s simple moving average over the past 50 days is $68.34, while the price of its simple moving average over the past 200 days is $63.70. The quick ratio is 105, the current ratio is 1.48, and the debt-to-equity ratio is 1.14. All of these figures are presented in the following table:
In recent press releases, many equity analysts were asked for their thoughts on the stock and supplied those opinions. Greif shares were included in the covered universe of Stifel Nicolaus on September 2, when a research note was released regarding the company’s outlook on the stock.
They suggested investing in the company’s shares and establishing a price objective of $90 per share. In a research report published by StockNews.com on Monday, September 5, Greif received a rating increase from a buy rating up to a strong buy rating in a research report. The report was on the company’s stock. In a research note published on September 6, Wells Fargo & Company lowered their price objective on Greif shares from $79.00 to $71.00 and downgraded the company’s stock from overweight to equal weight. Both of these actions were taken in response to Greif’s recent performance. In a research note published on Monday, September 5, BMO Capital Markets upgraded Greif from an underperform rating to a market perform rating and boosted their price target for the company from $52 to $70.00. This was the last but not the least of the firm’s recent changes. One of the stock research experts gave the company a sell rating. At the same time, the other four analysts suggested either keeping or purchasing the company’s shares, with one analyst advocating a strong purchase. MarketBeat.com has given Greif’s stock a rating of Moderate Buy, and the website’s experts have projected that the firm’s price will reach $73.20 shortly.
On the same day, June 29, further information was released, including the report that director Mark A. Emkes had sold 6,000 shares. It was determined that the shares were sold at an average price of $62.40 per share, which resulted in a total transaction volume of $374,400.00. Those findings were determined. As a direct result of the transaction, the director is now the proud owner of 34,326 shares of the company’s stock, which have a combined value of $2,141,942.40. You will be sent to a legal file submitted to the SEC if you click on the link that we have provided for you, where you will find additional information regarding the sale. On September 8, Patrick Gerard Mullaney, the company’s Senior Vice President, sold a total of 500 shares of company stock. The transaction took place on that day. The shares were sold on the open market for a total price of $67.65 per share, which totals $33,825.00 for the transaction. As a direct consequence of the transaction, the senior vice president now owns 3,843 shares, which have a value of $259,978.95.
You will be sent to a legal file submitted to the SEC if you click on the link that we have provided for you, where you will find additional information regarding the sale. Mark A. Emkes, a director at the firm, sold 6,000 shares of the company’s stock on Wednesday, June 29.
Additionally, the sale closed successfully. It was determined that the shares were sold at an average price of $62.40 per share, which resulted in a total transaction volume of $374,400.00. Those findings were determined. Following the completion of the transaction, the director now has direct ownership of 34,326 shares of the company. The total value of these shares is about $2,141,942.40. Disclosures that are related to the sale might be found in this section of the website. Recent transactions involving members of the company’s inner circle resulted in the selling of 55,481 shares of stock, which had a total value of $3,820,00097. Currently, the company’s employees own a total of 2.59% of the shares the company.