MeadWestvaco Corp. Given Consensus Recommendation of “Hold” by Brokerages (NYSE:MWV)
Shares of MeadWestvaco Corp. (NYSE:MWV) have received an average rating of “Hold” from the nine brokerages that are covering the company, American Banking News reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $42.79.
MWV has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of MeadWestvaco Corp. in a research note on Thursday, July 31st. They now have a $45.00 price target on the stock. Separately, analysts at Bank of America reiterated a “buy” rating on shares of MeadWestvaco Corp. in a research note on Friday, June 20th. They now have a $48.00 price target on the stock, up previously from $44.00. Finally, 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.
Shares of MeadWestvaco Corp. (NYSE:MWV) opened at 42.28 on Friday. MeadWestvaco Corp. has a one year low of $33.38 and a one year high of $44.72. The stock’s 50-day moving average is $43.62 and its 200-day moving average is $39.58. The company has a market cap of $7.234 billion and a price-to-earnings ratio of 8.65.
MeadWestvaco Corp. (NYSE:MWV) last released its earnings data on Wednesday, July 30th. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.50 by $0.03. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the company posted $0.37 earnings per share. MeadWestvaco Corp.’s revenue was up 5.5% compared to the same quarter last year. Analysts expect that MeadWestvaco Corp. will post $1.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Friday, August 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Wednesday, July 30th.
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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