MeadWestvaco Corp. Downgraded to Neutral at Bank of America Corp. (MWV)
MeadWestvaco Corp. (NYSE:MWV) was downgraded by investment analysts at Bank of America Corp. to a “neutral” rating in a note issued to investors on Friday, AmericanBankingNews.com reports.
Shares of MeadWestvaco Corp. (NYSE:MWV) opened at 36.69 on Friday. MeadWestvaco Corp. has a one year low of $31.14 and a one year high of $39.38. The stock has a 50-day moving average of $35.36 and a 200-day moving average of $36.31. The company has a market cap of $6.526 billion and a P/E ratio of 36.71.
MeadWestvaco Corp. (NYSE:MWV) last released its 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 last year, the company posted $0.39 earnings per share. MeadWestvaco Corp.’s revenue was up 2.8% compared to the same quarter last year.
A number of other firms have also recently commented on MWV. Analysts at BMO Capital Markets downgraded shares of MeadWestvaco Corp. from a “market perform” rating to an “underperform” rating in a research note to investors on Wednesday, December 11th. They now have a $35.50 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Zacks downgraded shares of MeadWestvaco Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, November 15th. They now have a $31.00 price target on the stock. Finally, analysts at RBC Capital cut their price target on shares of MeadWestvaco Corp. from $36.00 to $33.00 in a research note to investors on Wednesday, October 30th. They now have a “sector perform” rating on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.69.
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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