MeadWestvaco Corp. Upgraded to Buy at Merrill Lynch (MWV)
MeadWestvaco Corp. (NYSE:MWV) was upgraded by Merrill Lynch to a “buy” rating in a research note issued on Wednesday, Stock Ratings Network reports.
Shares of MeadWestvaco Corp. (NYSE:MWV) traded up 4.82% on Wednesday, hitting $37.38. 3,758,940 shares of the company’s stock traded hands. MeadWestvaco Corp. has a 1-year low of $31.14 and a 1-year high of $39.38. The stock has a 50-day moving average of $35.86 and a 200-day moving average of $36.42. The company has a market cap of $6.649 billion and a P/E ratio of 35.45.
MeadWestvaco Corp. (NYSE:MWV) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts expect that MeadWestvaco Corp. will post $1.26 EPS for the current fiscal year.
A number of other firms have also recently commented on MWV. Analysts at Deutsche Bank upgraded shares of MeadWestvaco Corp. from a “hold” rating to a “buy” rating in a research note to investors on Wednesday. They now have a $41.00 price target on the stock, up previously from $37.00. Separately, analysts at Bank of America Corp. upgraded shares of MeadWestvaco Corp. to a “buy” rating in a research note to investors on Wednesday. Finally, 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 equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $36.61.
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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