Greif, Inc. (GEF) to Issue Quarterly Dividend of $0.54 on October 1st

Greif, Inc. (NYSE:GEF) declared a quarterly dividend on Tuesday, August 27th, Zacks reports. Stockholders of record on Monday, September 16th will be paid a dividend of 0.54 per share by the industrial products company on Tuesday, October 1st. This represents a $2.16 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Greif’s previous quarterly dividend of $0.52.

Greif has raised its dividend payment by an average of 5.0% per year over the last three years. Greif has a payout ratio of 41.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Greif to earn $5.16 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 41.9%.

Greif Trading Down 2.7 %

NYSE:GEF traded down $1.71 during mid-day trading on Thursday, hitting $62.03. The company had a trading volume of 62,819 shares, compared to its average volume of 165,418. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.17 and a current ratio of 1.57. Greif has a fifty-two week low of $55.95 and a fifty-two week high of $74.46. The firm has a market cap of $2.92 billion, a P/E ratio of 13.33 and a beta of 0.91. The business’s fifty day moving average is $61.07 and its two-hundred day moving average is $62.75.

Greif (NYSE:GEF) last released its earnings results on Wednesday, August 28th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.14). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. Greif had a return on equity of 15.57% and a net margin of 5.17%. As a group, research analysts expect that Greif will post 4.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GEF shares. Truist Financial lowered their price objective on shares of Greif from $71.00 to $69.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. Wells Fargo & Company cut their price target on Greif from $80.00 to $76.00 and set an “overweight” rating on the stock in a research note on Monday. Raymond James assumed coverage on Greif in a research note on Friday, July 19th. They issued a “market perform” rating for the company. Stifel Nicolaus reissued a “buy” rating and set a $88.00 target price on shares of Greif in a report on Monday. Finally, StockNews.com lowered Greif from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.50.

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.