MeadWestvaco Corp. Upgraded to Buy at Deutsche Bank (MWV)
MeadWestvaco Corp. (NYSE:MWV) was upgraded by research analysts at Deutsche Bank to a “buy” rating in a report released on Wednesday, Analyst Ratings News reports.
Shares of MeadWestvaco Corp. (NYSE:MWV) traded up 5.36% during mid-day trading on Wednesday, hitting $37.57. 1,176,328 shares of the company’s stock traded hands. MeadWestvaco Corp. has a 52 week low of $31.14 and a 52 week high of $39.38. The stock’s 50-day moving average is $35.79 and its 200-day moving average is $36.41. The company has a market cap of $6.683 billion and a P/E ratio of 35.45.
MeadWestvaco Corp. (NYSE:MWV) last released its earnings data on Tuesday, October 29th. The company reported $0.49 earnings per share for the quarter, missing the analysts’ 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. Analysts expect that MeadWestvaco Corp. will post $1.26 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on MWV. Analysts at Bank of America Corp. upgraded shares of MeadWestvaco Corp. to a “buy” rating in a research note to investors on Wednesday. Separately, analysts at Robert W. Baird downgraded shares of MeadWestvaco Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, January 9th. They now have a $40.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. MeadWestvaco Corp. has a consensus rating of “Hold” and a consensus price target of $36.06.
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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