Greif, Inc. (NYSE:GEF) Increases Dividend to $0.62 Per Share

Greif, Inc. (NYSE:GEF) announced a quarterly dividend on Tuesday, June 2nd. Shareholders of record on Wednesday, June 17th will be given a dividend of 0.62 per share by the industrial products company on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, June 17th. This is a 10.7% increase from Greif’s previous quarterly dividend of $0.56.

Greif has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Greif has a payout ratio of 41.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Greif to earn $4.59 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 48.8%.

Greif Stock Performance

GEF stock traded up $1.13 during mid-day trading on Tuesday, reaching $63.53. 206,272 shares of the stock traded hands, compared to its average volume of 218,397. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. Greif has a 52 week low of $54.67 and a 52 week high of $77.14. The business has a 50-day moving average of $66.26 and a two-hundred day moving average of $68.29. The firm has a market capitalization of $2.93 billion, a PE ratio of 24.34, a P/E/G ratio of 0.65 and a beta of 0.80.

Greif (NYSE:GEF) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.06). Greif had a net margin of 7.27% and a return on equity of 7.50%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company earned $1.19 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. As a group, equities analysts predict that Greif will post 3.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their target price on shares of Greif from $79.00 to $78.00 and set a “hold” rating for the company in a research note on Monday, May 4th. Wells Fargo & Company dropped their price objective on shares of Greif from $76.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, March 20th. Finally, Zacks Research raised shares of Greif from a “strong sell” rating to a “hold” rating in a report on Thursday, May 21st. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Greif currently has an average rating of “Hold” and an average price target of $73.50.

Greif Company Profile

Greif, Inc is a global leader in industrial packaging products and services, with a history dating back to its founding in 1877. Headquartered in Cleveland, Ohio, the company has evolved from a regional barrel and drum manufacturer into a diversified packaging provider serving a wide range of end markets. Greif’s longstanding heritage in container solutions has positioned it as a trusted partner for customers seeking reliable, high-quality packaging options.

The company’s core business revolves around the design, manufacture and sale of industrial packaging products, including steel, plastic and fiber drums; intermediate bulk containers (IBCs); safety closures; rigid, flexible and reconditioned packaging; containerboard and protective packaging.