Shares Slide After Greif Inc. Earnings Disappoint
Greif Inc. (NYSE: GEF) released its FY10Q3 earnings this morning of $1.34/share which beat the Consensus of $1.21. The biggest gains came in paper packaging while volume continues to be solid. GEF boosts FY10 guidance by $0.05-$0.10 to $4.15-$4.35.
In a report from Deutsche Bank, Q4 outlook suggests q/q increase in sales volumes, but moderation in growth trajectory.
Deutsche Bank maintains a Buy rating on GEF and has a $67 price target.
GEF closed yesterday at $58.07
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