Equities analysts expect Westrock Co (NYSE:WRK) to report sales of $4.88 billion for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Westrock’s earnings. The lowest sales estimate is $4.63 billion and the highest is $5.26 billion. Westrock posted sales of $4.14 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 17.9%. The firm is expected to report its next quarterly earnings results on Thursday, August 1st.
According to Zacks, analysts expect that Westrock will report full year sales of $18.75 billion for the current year, with estimates ranging from $18.23 billion to $19.18 billion. For the next financial year, analysts forecast that the company will post sales of $18.87 billion, with estimates ranging from $17.96 billion to $19.81 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Westrock.
Westrock (NYSE:WRK) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.17. The company had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Westrock had a return on equity of 9.03% and a net margin of 4.89%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 earnings per share.
Several brokerages recently commented on WRK. KeyCorp reiterated a “hold” rating on shares of Westrock in a report on Wednesday, May 1st. UBS Group began coverage on Westrock in a report on Wednesday. They issued a “buy” rating and a $47.00 target price on the stock. Finally, Deutsche Bank cut Westrock from a “buy” rating to a “hold” rating and reduced their target price for the company from $51.00 to $42.00 in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Westrock presently has an average rating of “Hold” and a consensus price target of $49.56.
Shares of NYSE:WRK traded down $0.24 during midday trading on Tuesday, hitting $37.18. 24,863 shares of the stock were exchanged, compared to its average volume of 2,260,439. The stock has a market cap of $9.62 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 2.10 and a beta of 1.59. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.80. Westrock has a 12 month low of $35.20 and a 12 month high of $62.80.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 10th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Thursday, May 9th. Westrock’s payout ratio is presently 44.50%.
In related news, Director Currey M. Russell bought 5,000 shares of Westrock stock in a transaction that occurred on Thursday, February 28th. The shares were acquired at an average cost of $37.50 per share, for a total transaction of $187,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Westrock during the first quarter worth approximately $26,000. Rockefeller Capital Management L.P. raised its position in Westrock by 253.0% in the 1st quarter. Rockefeller Capital Management L.P. now owns 706 shares of the basic materials company’s stock valued at $27,000 after buying an additional 506 shares during the last quarter. Parallel Advisors LLC raised its position in Westrock by 64.5% in the 4th quarter. Parallel Advisors LLC now owns 719 shares of the basic materials company’s stock valued at $27,000 after buying an additional 282 shares during the last quarter. CSat Investment Advisory L.P. raised its position in Westrock by 60.0% in the 1st quarter. CSat Investment Advisory L.P. now owns 795 shares of the basic materials company’s stock valued at $30,000 after buying an additional 298 shares during the last quarter. Finally, Kings Point Capital Management bought a new position in Westrock in the 4th quarter valued at $30,000. 85.26% of the stock is currently owned by hedge funds and other institutional investors.
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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