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Thursday, October 28, 2021

Analysts Expect Greif, Inc. (NYSE: GEF) To Announce $1.15 Billion As Quarterly Sales

According to Zacks Investment Research, Greif, Inc. (NYSE: GEF) is expected to announce $1.15 billion as the company’s sales in the current fiscal quarter.

NYSE: GEF will reportedly announce its report on the quarterly earnings on the 2nd of December after the market closes. Till now, two analysts have submitted estimate-reports on GEF’s earnings for this fiscal quarter. The lowest estimate stands at $1.12 billion and the highest was estimated at $1.19 billion. Last year, during this same fiscal quarter, the company posted its sales earnings of $1.23 billion. This suggested that NYSE: GEF had a negative year-over-year growth rate that stands at 6.5%.

Zacks Makes Estimate Analysis Of NYSE: GEF Earnings

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Zacks Investment Research suggests that NYSE: GEF’s whole year’s sales earnings will stand at $4.51 billion for this ongoing financial year.  The estimates approximately range from $4.47 to $4.54 billion. For the upcoming financial year, according to Zacks, expert analysts suggest that the firm’s estimated sales will stand at $4.49 billion along with the estimates varying from $4.44 to $4.55 billion. Zacks has provided this data after doing a survey on analysts that provide expert coverage for NYSE: GEF. The calculations are based on a mean average from the sell-side analysts’ reports.

The quarterly earnings for the previous fiscal quarter was released by the company on the 26th of August. The earnings stood at $0.85 EPS for that quarter. This was similar to the general consensus on the estimated earnings at $0.85. The company’s return on equity also stood at 18.39% along with the net margin of 2.82%. The expected income for the firm was marked at $1.13 billion million but it made $1.08 billion for that quarter. During the same time previous year, the firm’s EPS was $1.26. This was 13.5% down based on a year-over-year calculation.

NYSE: GEF has recently been the subject of a lot of reports by research analysts. Some such as the BMO Capital Markets, TheStreet, Bank Of America, ValuEngine and so on have posted reports on this firm over the last few months.

Consensus On Greif Inc. “Hold” Rating

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BMO Capital Markets upped its price objective on the firm to $38.00 from $32.00 on September 22, setting a “market perform” rating on the firm. It was upgraded from an earlier “underperform” rating.  The Bank of America revised its price objective on September 21 to $46.00. Others like TheStreet changed the firm’s rating from “c” to “b-” on June 18. The industrial products firm was also rated “buy”, upgraded from “underperform” by BofA.

Thus, the recent consensus regarding Greif Inc. stands at the “hold” rating and the consensus on the target price stands at $39.57. Several hedge funds have also been involved in buying and selling of NYSE: GEF shares recently.

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