Greif (NYSE:GEF) Given a $40.00 Price Target at Wells Fargo & Co

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Wells Fargo & Co set a $40.00 price objective on Greif (NYSE:GEF) in a research note released on Friday morning, TipRanks reports. The brokerage currently has a hold rating on the industrial products company’s stock.

A number of other research analysts have also recently issued reports on GEF. KeyCorp reaffirmed a sell rating and issued a $31.00 price target on shares of Greif in a report on Thursday, February 28th. Zacks Investment Research cut shares of Greif from a buy rating to a hold rating in a report on Thursday, March 7th. Finally, Bank of America set a $38.00 price target on shares of Greif and gave the stock a sell rating in a report on Thursday, March 7th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of Sell and a consensus price target of $36.88.

NYSE GEF opened at $34.76 on Friday. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 9.85, a P/E/G ratio of 1.04 and a beta of 1.50. Greif has a 12-month low of $31.80 and a 12-month high of $59.48. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.67 and a quick ratio of 1.15.

Greif (NYSE:GEF) last posted its quarterly earnings results on Wednesday, June 5th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.02. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Greif had a net margin of 3.68% and a return on equity of 19.11%. The business’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the company posted $0.76 earnings per share. As a group, equities analysts anticipate that Greif will post 3.8 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Tuesday, June 18th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $1.76 annualized dividend and a dividend yield of 5.06%. Greif’s dividend payout ratio (DPR) is presently 49.86%.

Institutional investors have recently modified their holdings of the stock. Laurel Wealth Advisors LLC purchased a new position in shares of Greif during the fourth quarter worth $26,000. Advisor Group Inc. raised its holdings in shares of Greif by 1,825.9% during the first quarter. Advisor Group Inc. now owns 1,637 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 1,552 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new position in shares of Greif during the first quarter worth $84,000. Dupont Capital Management Corp purchased a new position in shares of Greif during the fourth quarter worth $80,000. Finally, Quantamental Technologies LLC purchased a new position in shares of Greif during the first quarter worth $122,000. 47.78% of the stock is owned by hedge funds and other institutional investors.

Greif Company Profile

Greif, Inc produces and sells industrial packaging products and services worldwide. It operates through 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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Analyst Recommendations for Greif (NYSE:GEF)

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