Greif Bros. Corporation (NYSE:GEF) declared a quarterly dividend on Wednesday, December 6th, Wall Street Journal reports. Stockholders of record on Monday, December 18th will be given a dividend of 0.42 per share by the industrial products company on Monday, January 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Friday, December 15th.
Greif Bros. has raised its dividend payment by an average of 10.1% per year over the last three years. Greif Bros. has a payout ratio of 58.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Greif Bros. to earn $3.43 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 49.0%.
Greif Bros. (GEF) traded down $1.40 during midday trading on Wednesday, hitting $54.78. The stock had a trading volume of 354,200 shares, compared to its average volume of 210,986. Greif Bros. has a 12 month low of $50.70 and a 12 month high of $63.04. The firm has a market capitalization of $2,730.00, a PE ratio of 21.44, a price-to-earnings-growth ratio of 1.89 and a beta of 1.29. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.10 and a current ratio of 1.56.
Greif Bros. (NYSE:GEF) last released its quarterly earnings results on Wednesday, December 6th. The industrial products company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.07. Greif Bros. had a return on equity of 15.49% and a net margin of 2.65%. The company had revenue of $968.00 million during the quarter, compared to analysts’ expectations of $931.96 million. During the same period in the previous year, the firm posted $0.65 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. analysts forecast that Greif Bros. will post 2.85 EPS for the current fiscal year.
GEF has been the subject of a number of analyst reports. BMO Capital Markets reissued a “hold” rating and issued a $55.00 price target on shares of Greif Bros. in a report on Thursday, August 17th. Bank of America downgraded Greif Bros. from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $60.45 to $63.00 in a research report on Friday, September 1st. Robert W. Baird reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Greif Bros. in a research report on Friday, September 1st. KeyCorp reaffirmed a “sell” rating on shares of Greif Bros. in a research report on Friday, November 10th. Finally, Zacks Investment Research downgraded Greif Bros. from a “hold” rating to a “sell” rating in a research report on Thursday, November 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $57.00.
About Greif Bros.
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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