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D.A. Davidson Reiterates Buy, Lowers PT On Greif On Another Quarter, Another Miss


In a report published Friday, D.A. Davidson analyst Steven Chercover reiterated a Buy rating on Greif, Inc. (NYSE: GEF), but lowered the price target from $50.00 to $45.00.

In the report, D.A. Davidson noted, "Greif reported Q1-15 operating earnings of $0.30, as compared to earnings of $0.46 in Q1-14 and down from $0.86 in Q4-14 (GEF has restated historical numbers). The results fell short of our $0.37 estimate, with both the top line and bottom line missing due in part to currency and a higher than anticipated (and guided tax) rate. GAAP earnings of $0.52 were down a penny from Q1-14 and include a $24 million gain on timberland, which should properly be excluded. Management has reaffirmed its FY-15 earnings guidance of $2.25 to $2.35 – we suspect guidance had a margin of error baked in, or it will be tough to attain."

Greif closed on Thursday at $37.78.

Latest Ratings for GEF

Dec 2018MaintainsOutperformOutperform
Dec 2018DowngradesOutperformUnderperform
Dec 2018DowngradesOutperformMarket Perform

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Posted-In: D.A. Davidson Steven ChercoverAnalyst Color Price Target Analyst Ratings


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