Share on StockTwits

Rock-Tenn Company (NYSE:RKT) shares are set to split on the morning of Thursday, August 28th, Analyst Ratings News reports. The 2-1 split was announced on Monday, July 28th. The newly created shares will be payable to shareholders after the market closes on Wednesday, August 27th.

Shares of Rock-Tenn Company (NYSE:RKT) traded down 2.56% during mid-day trading on Wednesday, hitting $93.525. 144,900 shares of the company’s stock traded hands. Rock-Tenn Company has a 52 week low of $92.12 and a 52 week high of $126.05. The stock’s 50-day moving average is $100.6 and its 200-day moving average is $102.2. The company has a market cap of $6.612 billion and a P/E ratio of 13.99. Rock-Tenn Company also was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totalling 1,184,273 shares, an increase of 68.2% from the July 15th total of 704,242 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average daily trading volume, of 1,052,419 shares, the short-interest ratio is currently 1.1 days.

Rock-Tenn Company (NYSE:RKT) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.17. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the company posted $2.16 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts predict that Rock-Tenn Company will post $7.11 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 19th. Shareholders of record on Wednesday, August 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, August 4th.

RKT has been the subject of a number of recent research reports. Analysts at Zacks reiterated an “underperform” rating on shares of Rock-Tenn Company in a research note on Thursday, August 7th. They now have a $89.00 price target on the stock. Separately, analysts at Macquarie downgraded shares of Rock-Tenn Company from an “outperform” rating to a “neutral” rating in a research note on Monday, July 21st. They now have a $106.00 price target on the stock, down previously from $125.00. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $118.89.

Rock-Tenn Company (NYSE:RKT) is a North America’s integrated manufacturer of corrugated and consumer packaging.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.