MeadWestvaco Corp. Stock Rating Reaffirmed by Bank of America (MWV)
MeadWestvaco Corp. (NYSE:MWV)‘s stock had its “buy” rating restated by equities research analysts at Bank of America in a research note issued to investors on Friday. They currently have a $48.00 price objective on the stock, up from their previous price objective of $44.00. Bank of America’s price target points to a potential upside of 10.55% from the stock’s previous close.
The analysts wrote, “We continue to rate MeadWestvaco a Buy with a thesis that MWV is increasingly committed and motivated to improving performance, given understandable investor scrutiny regarding its fundamental trends the last few years. We recently had the chance to check in with our trade sources in and around the industry and at MeadWestvaco, including through some BofA Merrill-hosted investor sessions and came away reaffirmed in our thesis.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Buckingham Research downgraded shares of MeadWestvaco Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 3rd. Separately, analysts at RBC Capital raised their price target on shares of MeadWestvaco Corp. from $38.00 to $44.00 in a research note on Tuesday, June 3rd. They now have a “sector perform” rating on the stock. Finally, analysts at KeyCorp initiated coverage on shares of MeadWestvaco Corp. in a research note on Monday, June 2nd. They set a “buy” rating and a $46.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. MeadWestvaco Corp. presently has a consensus rating of “Hold” and an average target price of $41.44.
MeadWestvaco Corp. (NYSE:MWV) opened at 43.42 on Friday. MeadWestvaco Corp. has a 1-year low of $33.38 and a 1-year high of $44.38. The stock’s 50-day moving average is $41.3 and its 200-day moving average is $37.82. The company has a market cap of $7.289 billion and a P/E ratio of 9.06.
MeadWestvaco Corp. (NYSE:MWV) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.23. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the company posted $0.16 earnings per share. MeadWestvaco Corp.’s revenue was up .8% compared to the same quarter last year. Analysts expect that MeadWestvaco Corp. will post $1.80 EPS 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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