Shares of Greif, Inc. (GEF - Free Report) crafted a new 52-week high of $40.91 on June 9. The new high came on the back of raised guidance for full-year fiscal 2016 and continuous focus on transformation efforts.
The stock closed a notch lower at $40.67 at the close of trading yesterday, with a solid one-year return of over 4% and year-to-date return of 32%. The average volume of shares traded over the last three months was roughly 413K.
The industrial packaging products and services provider has a market cap of $1.95 billion. Greif has beaten the Zacks Consensus Estimate three times in trailing four quarters, with an average surprise of 26.28%.
Growth Drivers
Despite posting year over year decrease in earnings per share in the second-quarter of fiscal 2016, Greif raised full-year earnings guidance to the range of $2.20 to $2.46. Earnings excludes gains and losses on the sale of businesses, timberland and property, plant and equipment, acquisition costs and restructuring and impairment charges.
Greif expects fiscal 2016 results to gain consistently from further implementation of its transformation efforts. It will better align resources with the needs of customers, improve returns on invested capital and better reward its shareholders.
The company divested non-core assets and closed facilities which will drive its performance going forward. Greif’s plans to expand gross margins are also gaining traction.
Further, Greif has executed basic fundamental process improvements in all commercial sourcing supply chain and operations. The company is also progressing on its growth initiatives and has completed two important expansions. These actions will be accretive to earnings.
Greif currently has a Zacks Rank #2 (Buy).
Stocks to Consider
Some better-ranked stocks in the same sector include Crown Holdings Inc. (CCK - Free Report) , Sonoco Products Co. (SON - Free Report) and Berry Plastics Group, Inc. (BERY - Free Report) . All these stocks carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Shares of Greif, Inc. (GEF - Free Report) crafted a new 52-week high of $40.91 on June 9. The new high came on the back of raised guidance for full-year fiscal 2016 and continuous focus on transformation efforts.
The stock closed a notch lower at $40.67 at the close of trading yesterday, with a solid one-year return of over 4% and year-to-date return of 32%. The average volume of shares traded over the last three months was roughly 413K.
The industrial packaging products and services provider has a market cap of $1.95 billion. Greif has beaten the Zacks Consensus Estimate three times in trailing four quarters, with an average surprise of 26.28%.
Growth Drivers
Despite posting year over year decrease in earnings per share in the second-quarter of fiscal 2016, Greif raised full-year earnings guidance to the range of $2.20 to $2.46. Earnings excludes gains and losses on the sale of businesses, timberland and property, plant and equipment, acquisition costs and restructuring and impairment charges.
Greif expects fiscal 2016 results to gain consistently from further implementation of its transformation efforts. It will better align resources with the needs of customers, improve returns on invested capital and better reward its shareholders.
The company divested non-core assets and closed facilities which will drive its performance going forward. Greif’s plans to expand gross margins are also gaining traction.
Further, Greif has executed basic fundamental process improvements in all commercial sourcing supply chain and operations. The company is also progressing on its growth initiatives and has completed two important expansions. These actions will be accretive to earnings.
Greif currently has a Zacks Rank #2 (Buy).
Stocks to Consider
Some better-ranked stocks in the same sector include Crown Holdings Inc. (CCK - Free Report) , Sonoco Products Co. (SON - Free Report) and Berry Plastics Group, Inc. (BERY - Free Report) . All these stocks carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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