Truist Financial Issues Positive Forecast for Smurfit Westrock (NYSE:SW) Stock Price

Smurfit Westrock (NYSE:SW) had its price target increased by Truist Financial from $50.00 to $55.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on SW. JPMorgan Chase & Co. increased their price target on shares of Smurfit Westrock from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Weiss Ratings lowered shares of Smurfit Westrock from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Smurfit Westrock in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $57.00 target price on the stock. Royal Bank Of Canada reduced their price target on shares of Smurfit Westrock from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $57.00 price target on shares of Smurfit Westrock in a report on Wednesday, May 6th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.58.

Smurfit Westrock Trading Up 1.6%

NYSE:SW opened at $43.58 on Wednesday. The company has a market cap of $22.86 billion, a P/E ratio of 60.53, a P/E/G ratio of 0.71 and a beta of 0.95. The stock’s fifty day moving average price is $42.30 and its two-hundred day moving average price is $42.34. Smurfit Westrock has a 1 year low of $32.73 and a 1 year high of $52.65. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.44 and a quick ratio of 0.95.

Smurfit Westrock (NYSE:SW) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.57 billion. Smurfit Westrock had a net margin of 1.22% and a return on equity of 4.96%. Smurfit Westrock’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. As a group, analysts expect that Smurfit Westrock will post 2.25 EPS for the current year.

Smurfit Westrock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a dividend of $0.4523 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.81 annualized dividend and a yield of 4.2%. Smurfit Westrock’s payout ratio is 250.00%.

Institutional Investors Weigh In On Smurfit Westrock

A number of institutional investors have recently made changes to their positions in SW. Trinity Street Asset Management LLP bought a new stake in Smurfit Westrock in the 2nd quarter worth $243,400,000. Handelsbanken Fonder AB raised its stake in shares of Smurfit Westrock by 23.4% during the second quarter. Handelsbanken Fonder AB now owns 194,600 shares of the company’s stock valued at $9,002,000 after acquiring an additional 36,900 shares during the last quarter. Legacy Wealth Asset Management LLC raised its stake in shares of Smurfit Westrock by 23.1% during the second quarter. Legacy Wealth Asset Management LLC now owns 31,416 shares of the company’s stock valued at $1,453,000 after acquiring an additional 5,905 shares during the last quarter. Kwmg LLC boosted its holdings in shares of Smurfit Westrock by 3.7% during the second quarter. Kwmg LLC now owns 154,330 shares of the company’s stock worth $7,139,000 after purchasing an additional 5,444 shares during the period. Finally, Czech National Bank boosted its holdings in shares of Smurfit Westrock by 4.9% during the second quarter. Czech National Bank now owns 149,283 shares of the company’s stock worth $6,906,000 after purchasing an additional 7,009 shares during the period. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Company Profile

Smurfit Westrock Plc, together with its subsidiaries, manufactures, distributes, and sells containerboard, corrugated containers, and other paper-based packaging products in Ireland and internationally. The company produces containerboard that it converts into corrugated containers or sells to third parties, as well as produces other types of paper, such as consumer packaging board, sack paper, graphic paper, solid board and graphic board, and other paper-based packaging products, such as consumer packaging, solid board packaging, paper sacks, and other packaging products, including bag-in-box.