MeadWestvaco Corp. Stock Rating Reaffirmed by Zacks (MWV)
MeadWestvaco Corp. (NYSE:MWV)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Wednesday, Analyst Ratings.Net reports. They currently have a $37.00 price objective on the stock. Zacks‘ price objective indicates a potential upside of 5.32% from the stock’s previous close.
Zacks‘ analyst wrote, “MeadWestvaco’s third-quarter 2013 earnings increased 26% y-o-y to $0.49 per share. MeadWestvaco expects higher earnings in the fourth quarter compared with the year-ago quarter, driven by continued volume improvement across its targeted packaging and specialty chemicals markets, pricing improvement in industrial packaging solutions and productivity gains from increased operating leverage. Furthermore, the ramp up of the new paperboard machine in Brazil and savings from its overhead reduction initiative will also boost earnings. However, challenging macroeconomic conditions, higher raw materials costs (particularly resin and fiber) and depreciation of Real against the U.S. Dollar will act as a deterrent. We reiterate our Neutral recommendation on MeadWestvaco with a target price of $37.”
MeadWestvaco Corp. (NYSE:MWV) traded up 0.03% during mid-day trading on Wednesday, hitting $35.14. 1,006,470 shares of the company’s stock traded hands. MeadWestvaco Corp. has a one year low of $27.93 and a one year high of $38.57. The stock’s 50-day moving average is $36.89 and its 200-day moving average is $35.86. The company has a market cap of $6.239 billion and a price-to-earnings ratio of 41.62.
MeadWestvaco Corp. (NYSE:MWV) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.49 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.51 by $0.02. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts predict that MeadWestvaco Corp. will post $1.36 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Credit Agricole upgraded shares of MeadWestvaco Corp. from an “outperform” rating to a “buy” rating in a research note to investors on Wednesday. Analysts at RBC Capital raised their price target on shares of MeadWestvaco Corp. from $30.00 to $36.00 in a research note to investors on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. MeadWestvaco Corp. currently has an average rating of “Hold” and an average price target of $37.44.
In other MeadWestvaco Corp. news, Director Douglas S. Luke sold 1,489 shares of the stock on the open market in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $38.93, for a total value of $57,966.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
MeadWestvaco Corporation (NYSE:MWV) is a global packaging company providing solutions to the healthcare, beauty and personal care, food, beverage, home and garden, tobacco, and agricultural industries.
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