MeadWestvaco Corp. (MWV) Declares Quarterly Dividend of $0.25
MeadWestvaco Corp. (NYSE:MWV) declared a quarterly dividend on Tuesday, June 24th, American Banking and Market News reports. Shareholders of record on Friday, August 1st will be given a dividend of 0.25 per share on Tuesday, September 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.29%.
A number of analysts have recently weighed in on MWV shares. Analysts at Bank of America reiterated a “buy” rating on shares of MeadWestvaco Corp. in a research note on Friday. They now have a $48.00 price target on the stock, up previously from $44.00. On a related note, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. MeadWestvaco Corp. currently has an average rating of “Hold” and an average target price of $41.44.
Shares of MeadWestvaco Corp. (NYSE:MWV) traded down 0.09% on Tuesday, hitting $43.56. 873,236 shares of the company’s stock traded hands. MeadWestvaco Corp. has a 52 week low of $33.38 and a 52 week high of $44.38. The stock’s 50-day moving average is $41. and its 200-day moving average is $37.97. The company has a market cap of $7.312 billion and a P/E ratio of 9.09.
MeadWestvaco Corp. (NYSE:MWV) last released its earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the 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 in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. 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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