Greif, Inc. (NYSE:GEF) Raises Dividend to $0.46 Per Share

Greif, Inc. (NYSE:GEF) announced a quarterly dividend on Wednesday, September 1st, Wall Street Journal reports. Stockholders of record on Friday, September 17th will be paid a dividend of 0.46 per share by the industrial products company on Friday, October 1st. This represents a $1.84 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Thursday, September 16th. This is a boost from Greif’s previous quarterly dividend of $0.44.

Greif has raised its dividend by 4.8% over the last three years and has increased its dividend annually for the last 1 consecutive years. Greif has a dividend payout ratio of 35.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Greif to earn $6.41 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 28.7%.

Shares of GEF opened at $65.05 on Wednesday. Greif has a 12 month low of $33.95 and a 12 month high of $68.81. The stock has a fifty day moving average price of $61.72 and a 200-day moving average price of $60.49. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 1.39. The firm has a market cap of $3.16 billion, a PE ratio of 11.74, a P/E/G ratio of 1.24 and a beta of 1.08.

Greif (NYSE:GEF) last issued its quarterly earnings data on Tuesday, August 31st. The industrial products company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.54 by $0.39. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.39 billion. Greif had a return on equity of 19.67% and a net margin of 6.43%. The business’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 EPS. As a group, research analysts forecast that Greif will post 5.27 EPS for the current year.

A number of brokerages recently issued reports on GEF. Zacks Investment Research lowered Greif from a “buy” rating to a “hold” rating and set a $66.00 target price for the company. in a research note on Wednesday, August 18th. Robert W. Baird raised their target price on Greif from $60.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, June 11th. BMO Capital Markets raised their target price on Greif from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, September 3rd. KeyCorp raised their target price on Greif from $55.00 to $57.00 and gave the stock an “underweight” rating in a research note on Friday, September 3rd. Finally, Wells Fargo & Company raised their target price on Greif from $68.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, May 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $63.83.

Greif Company Profile

Greif, Inc engages in the production of industrial packaging products and services. It operates through the following segments: Rigid Industrial Packaging and Services, Paper Packaging and Services, Flexible Products and Services, and Land Management. The Rigid Industrial Packaging and Services segment involves the production and sale of rigid industrial packaging products, such as steel, fibre and plastic drums, rigid intermediate bulk containers, closure systems for industrial packaging products, transit protection products, water bottles and reconditioned containers, and services, such as container life cycle services, blending, filling and other packaging services, logistics and warehousing.

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Dividend History for Greif (NYSE:GEF)

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