Zacks: Brokerages Expect Westrock Company (WRK) to Announce $0.86 EPS
Analysts predict that Westrock Company (NYSE:WRK) will post $0.86 earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for Westrock’s earnings, with the lowest EPS estimate coming in at $0.74 and the highest estimate coming in at $1.22. Westrock posted earnings per share of $0.47 during the same quarter last year, which indicates a positive year-over-year growth rate of 83%. The firm is expected to announce its next earnings results on Tuesday, January 23rd.
According to Zacks, analysts expect that Westrock will report full year earnings of $3.86 per share for the current financial year, with EPS estimates ranging from $3.70 to $4.30. For the next fiscal year, analysts expect that the firm will report earnings of $4.18 per share, with EPS estimates ranging from $3.94 to $4.55. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Westrock.
Westrock (NYSE:WRK) last released its earnings results on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.06. Westrock had a net margin of 4.77% and a return on equity of 6.73%. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the company earned $0.71 EPS. Westrock’s revenue for the quarter was up 12.4% on a year-over-year basis.
A number of research analysts recently weighed in on WRK shares. Goldman Sachs Group, Inc. (The) upgraded shares of Westrock from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, July 13th. Zacks Investment Research cut shares of Westrock from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and set a $68.00 target price on shares of Westrock in a research note on Friday, July 14th. Barclays PLC boosted their price target on shares of Westrock from $52.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 18th. Finally, BidaskClub cut shares of Westrock from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Westrock has a consensus rating of “Buy” and a consensus target price of $64.91.
In other news, insider Jeffrey Wayne Chalovich sold 18,368 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $58.41, for a total transaction of $1,072,874.88. Following the sale, the insider now directly owns 24,859 shares in the company, valued at approximately $1,452,014.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $57.26, for a total transaction of $592,240.18. Following the sale, the director now owns 497,557 shares in the company, valued at $28,490,113.82. The disclosure for this sale can be found here. Insiders have sold a total of 453,722 shares of company stock worth $25,541,424 over the last 90 days. Corporate insiders own 2.68% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in WRK. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Westrock during the 2nd quarter valued at about $100,000. Sun Life Financial INC raised its position in shares of Westrock by 26,114.3% during the 2nd quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock valued at $104,000 after buying an additional 1,828 shares in the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Westrock during the 3rd quarter valued at about $130,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Westrock by 25.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock valued at $144,000 after buying an additional 509 shares in the last quarter. Finally, FTB Advisors Inc. raised its position in shares of Westrock by 186.2% during the 2nd quarter. FTB Advisors Inc. now owns 3,185 shares of the basic materials company’s stock valued at $180,000 after buying an additional 2,072 shares in the last quarter. Hedge funds and other institutional investors own 88.79% of the company’s stock.
Westrock (WRK) opened at $59.95 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.49. Westrock has a one year low of $43.79 and a one year high of $61.60. The firm has a market cap of $15,011.66, a price-to-earnings ratio of 22.88, a P/E/G ratio of 2.10 and a beta of 1.37.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Friday, November 10th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.72 annualized dividend and a yield of 2.87%. This is a boost from Westrock’s previous quarterly dividend of $0.40. Westrock’s payout ratio is presently 57.76%.
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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