Westrock Company (WRK) Expected to Post Earnings of $0.87 Per Share
Wall Street brokerages expect that Westrock Company (NYSE:WRK) will report earnings per share (EPS) of $0.87 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Westrock’s earnings. The lowest EPS estimate is $0.85 and the highest is $0.90. Westrock reported earnings per share of $0.71 in the same quarter last year, which indicates a positive year over year growth rate of 22.5%. The company is expected to announce its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Westrock will report full-year earnings of $2.63 per share for the current financial year, with EPS estimates ranging from $2.60 to $2.66. For the next fiscal year, analysts expect that the business will post earnings of $3.71 per share, with EPS estimates ranging from $3.50 to $4.10. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Westrock.
Westrock (NYSE:WRK) last announced its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the business earned $0.71 earnings per share. Westrock’s revenue was up 2.8% compared to the same quarter last year.
A number of equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of Westrock from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research lowered shares of Westrock from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. KeyCorp reiterated a “hold” rating on shares of Westrock in a research note on Thursday, June 29th. BMO Capital Markets reiterated a “buy” rating and issued a $62.00 price objective on shares of Westrock in a research note on Thursday, June 15th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $65.00 price objective on shares of Westrock in a research note on Thursday, June 22nd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Westrock has a consensus rating of “Buy” and an average price target of $63.44.
In other Westrock news, Director John A. Luke, Jr. sold 87,202 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $55.06, for a total value of $4,801,342.12. Following the completion of the sale, the director now directly owns 497,557 shares of the company’s stock, valued at $27,395,488.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Luke, Jr. sold 10,343 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $57.53, for a total transaction of $595,032.79. Following the completion of the sale, the director now directly owns 497,557 shares of the company’s stock, valued at $28,624,454.21. The disclosure for this sale can be found here. Insiders sold 390,176 shares of company stock valued at $21,847,797 over the last three months. Insiders own 2.68% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its position in Westrock by 3,569.1% in the first quarter. BlackRock Inc. now owns 22,418,080 shares of the basic materials company’s stock worth $1,166,413,000 after acquiring an additional 21,807,090 shares in the last quarter. Ronna Sue Cohen grew its position in Westrock by 0.3% in the second quarter. Ronna Sue Cohen now owns 4,601 shares of the basic materials company’s stock worth $261,000 after acquiring an additional 12 shares in the last quarter. World Asset Management Inc grew its position in Westrock by 10.3% in the first quarter. World Asset Management Inc now owns 25,695 shares of the basic materials company’s stock worth $1,337,000 after acquiring an additional 2,405 shares in the last quarter. Alambic Investment Management L.P. bought a new stake in Westrock in the first quarter worth approximately $282,000. Finally, Toronto Dominion Bank grew its position in Westrock by 5.5% in the first quarter. Toronto Dominion Bank now owns 467,610 shares of the basic materials company’s stock worth $24,327,000 after acquiring an additional 24,306 shares in the last quarter. 88.63% of the stock is owned by institutional investors.
Shares of Westrock (WRK) opened at 56.47 on Friday. The company’s 50-day moving average is $56.63 and its 200-day moving average is $54.86. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 34.27 and a beta of 1.37. Westrock has a 12 month low of $43.79 and a 12 month high of $60.36.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Friday, August 11th were paid a $0.40 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.60 annualized dividend and a yield of 2.83%. Westrock’s dividend payout ratio is presently 97.56%.
Westrock Company Profile
WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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