RBC Capital Increases MeadWestvaco Corp. Price Target to $38.00 (MWV)
Stock analysts at RBC Capital raised their price target on shares of MeadWestvaco Corp. (NYSE:MWV) from $33.00 to $38.00 in a report issued on Thursday, Analyst Ratings Network reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price target suggests a potential upside of 1.12% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Merrill Lynch upgraded shares of MeadWestvaco Corp. to a “buy” rating in a research note to investors on Wednesday. Separately, 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. Finally, analysts at Bank of America Corp. upgraded shares of MeadWestvaco Corp. to a “buy” rating in a research note to investors on Wednesday. They now have a $38.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $37.25.
Shares of MeadWestvaco Corp. (NYSE:MWV) traded up 0.54% during mid-day trading on Thursday, hitting $37.58. 1,894,261 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 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 $6.685 billion and a P/E ratio of 37.16.
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 $1.26 earnings per share for the current fiscal year.
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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