Greif Bros. Corporation (GEF) Plans $0.42 Quarterly Dividend

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.

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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.

Dividend History for Greif Bros. (NYSE:GEF)

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