Wall Street brokerages expect WestRock (NYSE:WRK) to report earnings per share of $1.10 for the current quarter, according to Zacks. Three analysts have made estimates for WestRock’s earnings. The highest EPS estimate is $1.20 and the lowest is $1.05. WestRock posted earnings of $0.74 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 48.6%. The business is expected to announce its next earnings report on Thursday, August 2nd.
On average, analysts expect that WestRock will report full year earnings of $4.07 per share for the current fiscal year, with EPS estimates ranging from $3.90 to $4.25. For the next year, analysts expect that the firm will report earnings of $5.02 per share, with EPS estimates ranging from $4.22 to $5.88. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow WestRock.
WestRock (NYSE:WRK) last released its quarterly earnings results on Friday, April 27th. The basic materials company reported $0.83 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.83. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.10 billion. WestRock had a net margin of 12.01% and a return on equity of 7.84%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 earnings per share.
A number of equities analysts have commented on WRK shares. Deutsche Bank set a $78.00 price target on shares of WestRock and gave the company a “buy” rating in a research report on Tuesday, January 30th. Royal Bank of Canada restated a “buy” rating and issued a $85.00 price target on shares of WestRock in a research report on Tuesday, January 30th. Zacks Investment Research upgraded shares of WestRock from a “hold” rating to a “strong-buy” rating and set a $74.00 price target on the stock in a research report on Saturday, April 7th. Citigroup boosted their price target on shares of WestRock from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Finally, ValuEngine lowered shares of WestRock from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. WestRock has an average rating of “Buy” and a consensus price target of $75.90.
In related news, Director John A. Luke, Jr. sold 75,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $66.95, for a total value of $5,021,250.00. Following the transaction, the director now directly owns 534,159 shares in the company, valued at $35,761,945.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Luke, Jr. sold 50,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $65.56, for a total transaction of $3,278,000.00. Following the completion of the transaction, the director now owns 545,435 shares in the company, valued at $35,758,718.60. The disclosure for this sale can be found here. Insiders have sold 190,831 shares of company stock worth $12,656,836 over the last quarter. 2.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in WRK. Atria Investments LLC acquired a new position in WestRock in the fourth quarter valued at approximately $2,962,000. Convergence Investment Partners LLC acquired a new position in WestRock in the fourth quarter valued at approximately $1,571,000. Schwab Charles Investment Management Inc. lifted its holdings in WestRock by 7.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 904,853 shares of the basic materials company’s stock valued at $57,196,000 after buying an additional 59,682 shares during the period. Fox Run Management L.L.C. acquired a new position in WestRock in the fourth quarter valued at approximately $239,000. Finally, Contravisory Investment Management Inc. lifted its holdings in WestRock by 1,273.0% in the fourth quarter. Contravisory Investment Management Inc. now owns 63,336 shares of the basic materials company’s stock valued at $4,003,000 after buying an additional 58,723 shares during the period. Institutional investors and hedge funds own 86.21% of the company’s stock.
WestRock traded down $0.70, reaching $61.39, on Monday, Marketbeat.com reports. The stock had a trading volume of 1,845,385 shares, compared to its average volume of 1,760,094. The firm has a market cap of $15.92 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 1.13 and a beta of 1.40. WestRock has a 1-year low of $51.95 and a 1-year high of $71.55. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 0.48.
The business also recently announced a quarterly dividend, which was paid on Monday, May 14th. Stockholders of record on Friday, May 4th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, May 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.80%. WestRock’s payout ratio is 65.65%.
WestRock Company Profile
WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.
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