WestRock Co (NYSE:WRK) – Equities researchers at KeyCorp issued their Q1 2019 earnings per share estimates for shares of WestRock in a research report issued to clients and investors on Monday, November 5th. KeyCorp analyst A. Josephson anticipates that the basic materials company will post earnings per share of $0.75 for the quarter. KeyCorp also issued estimates for WestRock’s Q4 2019 earnings at $1.50 EPS and FY2020 earnings at $4.46 EPS.
Other analysts have also issued research reports about the company. TheStreet lowered WestRock from a “b-” rating to a “c” rating in a report on Friday, October 26th. Seaport Global Securities assumed coverage on WestRock in a report on Tuesday, October 23rd. They issued a “buy” rating and a $52.00 price objective for the company. ValuEngine upgraded WestRock from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Barclays reduced their target price on WestRock from $64.00 to $62.00 and set an “equal weight” rating for the company in a report on Thursday, August 9th. Finally, BMO Capital Markets downgraded WestRock from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $80.00 to $54.00 in a report on Tuesday, October 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $64.50.
WestRock (NYSE:WRK) last announced its quarterly earnings data on Monday, November 5th. The basic materials company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.05. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.28 billion. WestRock had a return on equity of 9.26% and a net margin of 11.70%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 earnings per share.
Several hedge funds and other institutional investors have recently made changes to their positions in WRK. Boston Partners lifted its stake in 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 acquiring an additional 89,561 shares in the last quarter. American Century Companies Inc. lifted its stake in WestRock by 19.2% in the 3rd quarter. American Century Companies Inc. now owns 5,726,585 shares of the basic materials company’s stock worth $306,029,000 after acquiring an additional 920,521 shares in the last quarter. Northern Trust Corp lifted its stake in WestRock by 4.1% in the 2nd quarter. Northern Trust Corp now owns 2,893,547 shares of the basic materials company’s stock worth $164,991,000 after acquiring an additional 113,015 shares in the last quarter. Investec Asset Management LTD lifted its stake in 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 acquiring an additional 108,110 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in 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 acquiring an additional 567,809 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Friday, November 9th will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.89%. This is an increase from WestRock’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, November 8th. WestRock’s dividend payout ratio is currently 42.05%.
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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