Greif Analysts Slash Their Forecasts After Q3 Earnings
Portfolio Pulse from Avi Kapoor
Greif, Inc. (NYSE:GEF) reported Q3 earnings that missed expectations, with EPS at $1.03 versus the expected $1.14, but sales slightly beat estimates. Despite the earnings miss, Greif's shares rose 0.9%. Analysts have adjusted their price targets, with Truist Securities, Stifel, and B of A Securities lowering their targets but maintaining their ratings.
August 30, 2024 | 6:25 pm
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NEUTRAL IMPACT
Greif's Q3 earnings missed expectations with EPS at $1.03, below the $1.14 consensus, but sales slightly exceeded estimates. Despite the earnings miss, the stock rose 0.9%. Analysts have adjusted their price targets downward but maintained their ratings.
Greif's earnings miss could have negatively impacted the stock, but the slight sales beat and positive analyst ratings may have mitigated this, resulting in a neutral short-term impact. The stock's 0.9% rise suggests investor confidence despite the earnings miss.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100