WestRock Co (NYSE:WRK) – Equities researchers at DA Davidson lowered their Q1 2019 earnings estimates for shares of WestRock in a report issued on Friday, October 5th. DA Davidson analyst S. Chercover now anticipates that the basic materials company will post earnings per share of $1.01 for the quarter, down from their previous estimate of $1.08. DA Davidson also issued estimates for WestRock’s Q2 2019 earnings at $1.06 EPS, Q3 2019 earnings at $1.29 EPS, Q4 2019 earnings at $1.36 EPS and FY2019 earnings at $4.73 EPS.
WRK has been the topic of a number of other reports. Wells Fargo & Co assumed coverage on WestRock in a research note on Friday, September 21st. They issued a “market perform” rating and a $63.00 price objective on the stock. Zacks Investment Research cut WestRock from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. ValuEngine cut WestRock from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Citigroup lowered their price objective on WestRock from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, July 10th. Finally, Stephens set a $63.00 price objective on WestRock and gave the company a “weight” rating in a research note on Thursday, July 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $73.50.
WestRock (NYSE:WRK) last announced 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 for the quarter, compared to analysts’ expectations of $4.16 billion. During the same period in the previous year, the business posted $0.74 EPS. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year.
A number of hedge funds have recently bought and sold shares of the business. CIBC World Markets Inc. grew its holdings in WestRock by 9.4% during the 2nd quarter. CIBC World Markets Inc. now owns 10,969 shares of the basic materials company’s stock valued at $625,000 after buying an additional 940 shares in the last quarter. Clear Harbor Asset Management LLC grew its holdings in WestRock by 1.9% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 52,032 shares of the basic materials company’s stock valued at $2,967,000 after buying an additional 990 shares in the last quarter. Greenleaf Trust grew its holdings in WestRock by 24.9% during the 2nd quarter. Greenleaf Trust now owns 5,309 shares of the basic materials company’s stock valued at $303,000 after buying an additional 1,059 shares in the last quarter. Telemus Capital LLC grew its holdings in WestRock by 1.4% during the 2nd quarter. Telemus Capital LLC now owns 85,570 shares of the basic materials company’s stock valued at $4,879,000 after buying an additional 1,209 shares in the last quarter. Finally, OLD National Bancorp IN grew its holdings in WestRock by 15.4% during the 2nd quarter. OLD National Bancorp IN now owns 9,169 shares of the basic materials company’s stock valued at $522,000 after buying an additional 1,221 shares in the last quarter. 85.14% of the stock is owned by institutional investors and hedge funds.
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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