Seaport Global Securities Comments on WestRock Co’s Q1 2019 Earnings (WRK)

WestRock Co (NYSE:WRK) – Equities researchers at Seaport Global Securities lowered their Q1 2019 EPS estimates for WestRock in a research note issued to investors on Tuesday, November 6th. Seaport Global Securities analyst M. Weintraub now forecasts that the basic materials company will earn $0.88 per share for the quarter, down from their prior estimate of $1.08. Seaport Global Securities currently has a “Buy” rating and a $52.00 target price on the stock. Seaport Global Securities also issued estimates for WestRock’s Q2 2019 earnings at $0.90 EPS, Q3 2019 earnings at $1.29 EPS and FY2019 earnings at $4.60 EPS.

WestRock (NYSE:WRK) last issued its quarterly earnings results on Monday, November 5th. The basic materials company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.24 by $0.05. WestRock had a net margin of 11.70% and a return on equity of 9.26%. The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the firm posted $0.87 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis.

Several other research analysts have also weighed in on the stock. Wells Fargo & Co lowered their price objective on shares of WestRock from $63.00 to $53.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 9th. Zacks Investment Research lowered shares of WestRock from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Goldman Sachs Group lowered shares of WestRock from a “conviction-buy” rating to a “buy” rating and set a $64.00 price objective on the stock. in a research note on Wednesday, October 10th. Bank of America initiated coverage on shares of WestRock in a research note on Tuesday, October 23rd. They set a “buy” rating on the stock. Finally, BMO Capital Markets lowered shares of WestRock from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $80.00 to $54.00 in a research note on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. WestRock currently has an average rating of “Hold” and an average price target of $64.50.

Shares of NYSE:WRK opened at $45.81 on Thursday. The stock has a market cap of $11.92 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 0.89 and a beta of 1.58. WestRock has a one year low of $39.21 and a one year high of $71.55. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.49.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC acquired a new position in WestRock in the 2nd quarter valued at about $171,000. Cerebellum GP LLC acquired a new position in WestRock in the 3rd quarter valued at about $182,000. Exane Asset Management acquired a new position in WestRock in the 2nd quarter valued at about $201,000. Charter Trust Co. acquired a new position in WestRock in the 2nd quarter valued at about $203,000. Finally, RFG Advisory Group LLC acquired a new position in WestRock in the 2nd quarter valued at about $209,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Friday, November 9th will be paid a $0.455 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.82 dividend on an annualized basis and a yield of 3.97%. This is a positive change from WestRock’s previous quarterly dividend of $0.43. WestRock’s dividend payout ratio is 42.05%.

About WestRock

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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Earnings History and Estimates for WestRock (NYSE:WRK)

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