Analysts Anticipate WestRock Co (WRK) to Post $1.26 Earnings Per Share

Equities research analysts expect WestRock Co (NYSE:WRK) to post earnings of $1.26 per share for the current quarter, Zacks reports. Three analysts have made estimates for WestRock’s earnings, with the highest EPS estimate coming in at $1.28 and the lowest estimate coming in at $1.23. WestRock reported earnings of $0.87 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 44.8%. The business is expected to announce its next earnings results on Thursday, November 1st.

According to Zacks, analysts expect that WestRock will report full-year earnings of $4.06 per share for the current financial year, with EPS estimates ranging from $4.02 to $4.09. For the next financial year, analysts forecast that the firm will report earnings of $4.79 per share, with EPS estimates ranging from $4.27 to $5.43. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow WestRock.

WestRock (NYSE:WRK) last released its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.03. WestRock had a return on equity of 8.49% and a net margin of 11.31%. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year.

Several analysts have weighed in on WRK shares. Barclays cut their target price on WestRock from $64.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 9th. ValuEngine raised WestRock from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Stephens set a $63.00 target price on WestRock and gave the company a “weight” rating in a research note on Thursday, July 5th. KeyCorp reaffirmed a “hold” rating on shares of WestRock in a research note on Friday, April 27th. Finally, Citigroup cut their target price on WestRock from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, July 10th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. WestRock presently has an average rating of “Buy” and a consensus target price of $74.67.

A number of institutional investors have recently made changes to their positions in the business. Boston Partners raised its stake in shares of WestRock by 1.1% in the 2nd quarter. Boston Partners now owns 8,152,587 shares of the basic materials company’s stock worth $464,861,000 after buying an additional 89,561 shares in the last quarter. American Century Companies Inc. raised its stake in shares of WestRock by 8.5% in the 2nd quarter. American Century Companies Inc. now owns 4,806,064 shares of the basic materials company’s stock worth $274,042,000 after buying an additional 375,908 shares in the last quarter. Investec Asset Management LTD raised its stake in shares of WestRock by 4.6% in the 2nd quarter. Investec Asset Management LTD now owns 2,464,357 shares of the basic materials company’s stock worth $140,518,000 after buying an additional 108,110 shares in the last quarter. Royal Bank of Canada raised its stake in shares of WestRock by 257.7% in the 1st quarter. Royal Bank of Canada now owns 2,395,435 shares of the basic materials company’s stock worth $153,716,000 after buying an additional 1,725,807 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of WestRock by 67.4% in the 2nd quarter. Millennium Management LLC now owns 1,410,755 shares of the basic materials company’s stock worth $80,441,000 after buying an additional 567,809 shares in the last quarter. 87.08% of the stock is currently owned by hedge funds and other institutional investors.

WestRock stock traded up $0.16 during mid-day trading on Thursday, hitting $55.12. 904,200 shares of the company’s stock traded hands, compared to its average volume of 1,727,754. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.56 and a quick ratio of 0.95. The company has a market capitalization of $14.03 billion, a P/E ratio of 21.11, a PEG ratio of 1.02 and a beta of 1.36. WestRock has a one year low of $52.78 and a one year high of $71.55.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 20th. Shareholders of record on Friday, August 10th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.12%. The ex-dividend date is Thursday, August 9th. WestRock’s payout ratio is currently 65.65%.

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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