Greif, Inc. (NYSE:GEF) Announces Quarterly Dividend of $0.62

Greif, Inc. (NYSE:GEF) announced a quarterly dividend on Tuesday, June 2nd. Investors of record on Wednesday, June 17th will be paid 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 is Wednesday, June 17th. This is a 10.7% increase from Greif’s previous quarterly dividend of $0.56.

Greif has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 4 years. Greif has a dividend payout ratio of 41.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 1.8%

NYSE GEF opened at $63.53 on Wednesday. The stock has a market cap of $2.93 billion, a PE ratio of 24.34, a P/E/G ratio of 0.64 and a beta of 0.80. Greif has a fifty-two week low of $54.67 and a fifty-two week high of $77.14. The business has a 50 day moving average price of $66.26 and a two-hundred day moving average price of $68.29. 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 (NYSE:GEF) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.06). The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Greif had a return on equity of 7.50% and a net margin of 7.27%.The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.19 EPS. As a group, sell-side analysts predict that Greif will post 3.87 EPS for the current fiscal year.

Analyst Ratings Changes

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