Greif (GEF) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Greif (NYSE:GEF) from a hold rating to a sell rating in a research note issued to investors on Tuesday, reports.

According to Zacks, “Greif updated adjusted earnings per share guidance for fiscal 2019 at $3.60-$4.00. The mid-point of the guidance reflects year-over-year growth of 8%. The outlook has been updated to include the impact of the acquired Caraustar business. However, high debt following the acquisition remains a concern. Further, lower volume expectations for the Rigid Industrial Packaging & Services will impact results in fiscal 2019.”

Other research analysts also recently issued research reports about the company. KeyCorp reissued a sell rating and issued a $31.00 target price on shares of Greif in a report on Thursday, February 28th. Robert W. Baird downgraded Greif from an outperform rating to a neutral rating in a report on Monday, January 7th. Finally, Bank of America set a $38.00 target price on Greif and gave the company a sell rating in a report on Thursday, March 7th. Five investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock presently has an average rating of Sell and an average price target of $40.38.

GEF stock opened at $39.09 on Tuesday. Greif has a fifty-two week low of $31.80 and a fifty-two week high of $62.75. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.29 and a current ratio of 1.83. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 1.26 and a beta of 1.50.

Greif (NYSE:GEF) last posted its earnings results on Wednesday, February 27th. The industrial products company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. Greif had a return on equity of 18.89% and a net margin of 4.72%. The company had revenue of $897.00 million for the quarter, compared to the consensus estimate of $922.24 million. During the same quarter in the prior year, the company earned $0.96 earnings per share. Greif’s revenue was down 1.0% on a year-over-year basis. On average, equities analysts predict that Greif will post 3.67 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Laurel Wealth Advisors LLC bought a new position in shares of Greif in the fourth quarter worth about $26,000. Advisors Preferred LLC bought a new position in shares of Greif in the fourth quarter worth about $71,000. Dupont Capital Management Corp bought a new position in shares of Greif in the fourth quarter worth about $80,000. Quantamental Technologies LLC bought a new position in shares of Greif in the first quarter worth about $122,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Greif in the first quarter worth about $206,000. 48.50% of the stock is currently 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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