WestRock (NYSE:WRK) Issues Earnings Results, Beats Estimates By $0.14 EPS

WestRock (NYSE:WRK) announced its quarterly earnings data on Thursday. The basic materials company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14, Briefing.com reports. WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis.

WestRock Stock Performance

Shares of NYSE WRK traded up $0.05 during trading hours on Friday, hitting $51.16. 2,937,138 shares of the company’s stock were exchanged, compared to its average volume of 2,137,784. The company’s 50-day moving average price is $47.73 and its 200-day moving average price is $42.73. WestRock has a 1-year low of $26.85 and a 1-year high of $51.79. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of -7.61, a PEG ratio of 4.47 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.55 and a quick ratio of 0.95.

WestRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be given a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Monday, May 13th. WestRock’s dividend payout ratio is -18.01%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WRK. Seaport Res Ptn lowered shares of WestRock from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. StockNews.com began coverage on shares of WestRock in a report on Thursday. They issued a “hold” rating for the company. Truist Financial raised their target price on WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a report on Thursday, January 4th. Wells Fargo & Company upped their price target on WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $42.00 price objective on shares of WestRock in a research note on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.50.

Insider Buying and Selling at WestRock

In other WestRock news, insider Vicki L. Lostetter sold 3,500 shares of WestRock stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.77, for a total value of $149,695.00. Following the transaction, the insider now directly owns 92,117 shares of the company’s stock, valued at approximately $3,939,844.09. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.49% of the company’s stock.

WestRock Company Profile

WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates through four segments: Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.