Wall Street brokerages expect that Westrock Co (NYSE:WRK) will announce earnings per share of $1.19 for the current quarter, Zacks reports. Five analysts have issued estimates for Westrock’s earnings, with the highest EPS estimate coming in at $1.27 and the lowest estimate coming in at $1.06. Westrock posted earnings per share of $1.29 during the same quarter last year, which indicates a negative year-over-year growth rate of 7.8%. The company is expected to announce its next quarterly earnings report on Monday, November 4th.
According to Zacks, analysts expect that Westrock will report full-year earnings of $3.86 per share for the current year, with EPS estimates ranging from $3.56 to $4.01. For the next fiscal year, analysts anticipate that the company will post earnings of $3.42 per share, with EPS estimates ranging from $2.81 to $3.71. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Westrock.
Westrock (NYSE:WRK) last announced its earnings results on Thursday, August 1st. The basic materials company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.09. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.83 billion. Westrock had a return on equity of 8.97% and a net margin of 4.65%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 EPS.
Several research analysts have recently weighed in on WRK shares. UBS Group set a $44.00 target price on Westrock and gave the stock a “buy” rating in a research note on Monday, June 24th. KeyCorp downgraded Westrock from a “sector weight” rating to an “underweight” rating and set a $32.00 target price for the company. in a research note on Monday, July 15th. Finally, Zacks Investment Research raised Westrock from a “strong sell” rating to a “hold” rating and set a $30.00 target price for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $44.20.
In related news, Director John A. Luke, Jr. sold 61,809 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $38.00, for a total transaction of $2,348,742.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Westrock by 38.6% in the first quarter. BlackRock Inc. now owns 31,068,544 shares of the basic materials company’s stock worth $1,191,478,000 after buying an additional 8,658,073 shares during the period. Nuveen Asset Management LLC increased its position in Westrock by 5,977.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,764,481 shares of the basic materials company’s stock valued at $64,350,000 after acquiring an additional 1,735,449 shares during the period. Invesco Ltd. increased its position in Westrock by 77.0% in the 2nd quarter. Invesco Ltd. now owns 3,772,027 shares of the basic materials company’s stock valued at $137,566,000 after acquiring an additional 1,640,518 shares during the period. Impax Asset Management Group plc increased its position in Westrock by 29.2% in the 2nd quarter. Impax Asset Management Group plc now owns 2,931,787 shares of the basic materials company’s stock valued at $106,922,000 after acquiring an additional 663,154 shares during the period. Finally, Clark Estates Inc. NY acquired a new stake in Westrock in the 1st quarter valued at approximately $22,243,000. Hedge funds and other institutional investors own 82.96% of the company’s stock.
Shares of WRK stock traded up $0.63 during trading hours on Monday, hitting $33.98. 1,806,349 shares of the company’s stock were exchanged, compared to its average volume of 2,483,386. The company has a quick ratio of 0.87, a current ratio of 1.45 and a debt-to-equity ratio of 0.82. The firm has a market cap of $8.38 billion, a P/E ratio of 8.31, a P/E/G ratio of 1.87 and a beta of 1.61. The firm has a 50 day moving average of $36.01 and a two-hundred day moving average of $37.02. Westrock has a fifty-two week low of $32.01 and a fifty-two week high of $57.23.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Friday, August 9th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend is Thursday, August 8th. Westrock’s payout ratio is 44.50%.
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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