$5.02 Billion in Sales Expected for WestRock (NYSE:WRK) This Quarter

Analysts expect WestRock (NYSE:WRK) to announce $5.02 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for WestRock’s earnings. The lowest sales estimate is $4.96 billion and the highest is $5.15 billion. WestRock posted sales of $4.47 billion in the same quarter last year, which would indicate a positive year over year growth rate of 12.3%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 4th.

On average, analysts expect that WestRock will report full-year sales of $18.68 billion for the current financial year, with estimates ranging from $18.62 billion to $18.81 billion. For the next fiscal year, analysts anticipate that the business will report sales of $20.02 billion, with estimates ranging from $19.60 billion to $20.57 billion. Zacks’ sales averages are an average based on a survey of research firms that cover WestRock.

WestRock (NYSE:WRK) last posted its earnings results on Thursday, August 5th. The basic materials company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.03. The company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.71 billion. WestRock had a positive return on equity of 6.96% and a negative net margin of 3.54%. The business’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 earnings per share.

WRK has been the topic of several research reports. Zacks Investment Research lowered WestRock from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a research report on Friday, July 16th. KeyCorp decreased their price objective on shares of WestRock from $49.00 to $45.00 and set an “underweight” rating for the company in a report on Friday, August 6th. Finally, Wells Fargo & Company increased their target price on shares of WestRock from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, June 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $58.40.

Institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in WestRock by 5.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 30,153,272 shares of the basic materials company’s stock valued at $1,604,757,000 after purchasing an additional 1,605,498 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of WestRock by 1.6% during the second quarter. Vanguard Group Inc. now owns 29,987,226 shares of the basic materials company’s stock worth $1,595,921,000 after buying an additional 459,434 shares in the last quarter. State Street Corp increased its holdings in shares of WestRock by 4.4% during the second quarter. State Street Corp now owns 11,945,992 shares of the basic materials company’s stock worth $635,766,000 after buying an additional 504,456 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of WestRock by 8.2% in the second quarter. JPMorgan Chase & Co. now owns 6,394,769 shares of the basic materials company’s stock valued at $340,329,000 after acquiring an additional 482,325 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in WestRock by 5.7% during the 2nd quarter. Geode Capital Management LLC now owns 4,924,839 shares of the basic materials company’s stock worth $261,405,000 after acquiring an additional 264,941 shares during the last quarter. 82.02% of the stock is owned by institutional investors and hedge funds.

NYSE WRK opened at $50.21 on Friday. The company has a current ratio of 1.49, a quick ratio of 0.93 and a debt-to-equity ratio of 0.71. The company has a market cap of $13.41 billion, a PE ratio of -19.85, a PEG ratio of 0.54 and a beta of 1.26. WestRock has a 1 year low of $32.01 and a 1 year high of $62.03. The stock’s 50-day moving average price is $50.20 and its two-hundred day moving average price is $53.15.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 24th. Stockholders of record on Friday, August 13th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, August 12th. This represents a $0.96 annualized dividend and a dividend yield of 1.91%. WestRock’s dividend payout ratio (DPR) is currently 34.78%.

WestRock Company Profile

WestRock Co engages in the provision of paper and packaging solutions. It operates through the following segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment consists of its containerboard mill and corrugated packaging operations, as well as recycling operations.

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Earnings History and Estimates for WestRock (NYSE:WRK)

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