$0.76 EPS Expected for WestRock Co (WRK) This Quarter
Analysts predict that WestRock Co (NYSE:WRK) will report earnings of $0.76 per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for WestRock’s earnings, with the highest EPS estimate coming in at $0.80 and the lowest estimate coming in at $0.74. WestRock reported earnings of $0.47 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 61.7%. The firm is expected to announce its next earnings report on Tuesday, January 23rd.
According to Zacks, analysts expect that WestRock will report full-year earnings of $3.74 per share for the current financial year, with EPS estimates ranging from $3.57 to $4.00. For the next financial year, analysts forecast that the company will report earnings of $4.22 per share, with EPS estimates ranging from $3.91 to $4.65. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover WestRock.
WestRock (NYSE:WRK) last released its earnings results on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.13 billion. WestRock had a return on equity of 6.73% and a net margin of 4.77%. WestRock’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share.
WRK has been the subject of several research reports. Jefferies Group LLC reissued a “buy” rating and set a $69.00 price objective on shares of WestRock in a report on Friday, August 4th. Barclays PLC increased their price objective on WestRock from $54.00 to $58.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. BidaskClub downgraded WestRock from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Royal Bank Of Canada restated a “buy” rating and set a $65.00 target price on shares of WestRock in a research report on Monday, September 25th. Finally, Deutsche Bank AG restated a “buy” rating and set a $65.00 target price (up previously from $61.00) on shares of WestRock in a research report on Monday, October 9th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. WestRock presently has a consensus rating of “Buy” and an average price target of $65.09.
WestRock (NYSE WRK) opened at $58.79 on Friday. WestRock has a twelve month low of $49.23 and a twelve month high of $61.60. The firm has a market capitalization of $14,970.00 and a price-to-earnings ratio of 22.39. The company has a current ratio of 1.49, a quick ratio of 0.89 and a debt-to-equity ratio of 0.57.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Friday, November 10th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Thursday, November 9th. This is an increase from WestRock’s previous quarterly dividend of $0.40. WestRock’s dividend payout ratio (DPR) is 62.09%.
In related news, Director John A. Luke, Jr. sold 153,718 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $55.40, for a total value of $8,515,977.20. Following the sale, the director now owns 543,291 shares in the company, valued at $30,098,321.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jennifer Graham-Johnson sold 3,806 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $57.08, for a total value of $217,246.48. Following the completion of the sale, the executive vice president now owns 41,588 shares in the company, valued at approximately $2,373,843.04. The disclosure for this sale can be found here. Insiders sold 453,722 shares of company stock worth $25,616,721 in the last quarter. 2.68% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WRK. Mckinley Capital Management LLC Delaware purchased a new stake in WestRock during the second quarter valued at about $100,000. Sun Life Financial INC raised its position in WestRock by 26,114.3% during the second quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock valued at $104,000 after purchasing an additional 1,828 shares in the last quarter. Invictus RG purchased a new stake in WestRock during the third quarter valued at about $108,000. Old Mutual Global Investors UK Ltd. purchased a new stake in WestRock during the third quarter valued at about $130,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in WestRock by 25.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 509 shares in the last quarter. Institutional investors and hedge funds own 86.92% of the company’s stock.
WestRock Company Profile
WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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