Greif, Inc. (GEF - Free Report) , a manufacturer of industrial packaging products, bulk containers, and containerboard as well as corrugated products has been performing well off late. Shares of this Zacks Rank #1 (Strong Buy) stock have gained 55% year to date.
If you haven’t taken advantage of the share price appreciation yet, the time is right for you to add the stock as Greif looks promising and is poised to carry the momentum ahead. Additionally, the stock carries a long-term earnings growth rate of 8.67% and a VGM Score of “B.”
Strong Third Quarter
Greif performed impressively in the fiscal third quarter 2016, delivering an improvement in its bottom line despite a decline in its top line. Adjusted earnings came in at 91 cents, a 52% climb year over year, also surpassing the Zacks Consensus Estimate of 72 cents. Revenues on the other hand slumped 9% year over year to $845 million due to weakness in agricultural markets in Europe and North America.
Greif raised its earnings per share guidance for fiscal 2016 to the range of $2.36−$2.56, from the prior band of $2.20−$2.46. The company expects results to benefit from continuous focus on customer service excellence and fundamental operational improvements despite a sustained sluggish global industrial economy, weaker containerboard prices and weaker-than-expected seasonal agricultural sales.
GREIF INC Price and Consensus