Seaport Global Securities assumed coverage on shares of WestRock (NYSE:WRK) in a research report report published on Tuesday, October 23rd, MarketBeat reports. The brokerage issued a buy rating and a $52.00 target price on the basic materials company’s stock. Seaport Global Securities also issued estimates for WestRock’s Q4 2018 earnings at $1.25 EPS, FY2018 earnings at $4.05 EPS, Q1 2019 earnings at $1.08 EPS, Q2 2019 earnings at $1.10 EPS, Q3 2019 earnings at $1.09 EPS, Q4 2019 earnings at $1.27 EPS and FY2019 earnings at $4.55 EPS.
WRK has been the topic of a number of other research reports. Bank of America began coverage on WestRock in a report on Tuesday, October 23rd. They issued a buy rating on the stock. Wells Fargo & Co began coverage on WestRock in a report on Friday, September 21st. They issued a market perform rating and a $63.00 target price on the stock. Zacks Investment Research downgraded WestRock from a hold rating to a sell rating in a report on Thursday, October 4th. ValuEngine downgraded WestRock from a hold rating to a sell rating in a report on Monday, July 2nd. Finally, Citigroup cut their price objective on WestRock from $75.00 to $54.00 and set a buy rating on the stock in a report on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $64.50.
Shares of WRK stock opened at $46.80 on Tuesday. The firm has a market capitalization of $11.40 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 0.85 and a beta of 1.58. WestRock has a fifty-two week low of $39.21 and a fifty-two week high of $71.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 1.56.
WestRock (NYSE:WRK) last issued its earnings results on Monday, November 5th. The basic materials company reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.05. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.28 billion. WestRock had a return on equity of 8.49% and a net margin of 11.31%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 EPS. On average, analysts forecast that WestRock will post 4.7 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Friday, November 9th will be issued a dividend of $0.455 per share. This is an increase from WestRock’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.82 annualized dividend and a dividend yield of 3.89%. WestRock’s dividend payout ratio (DPR) is 42.05%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors lifted its holdings in WestRock by 24.1% during the 2nd quarter. Captrust Financial Advisors now owns 60,155 shares of the basic materials company’s stock worth $3,430,000 after buying an additional 11,680 shares during the period. Centaurus Financial Inc. acquired a new position in WestRock during the 2nd quarter worth about $976,000. Conning Inc. lifted its holdings in WestRock by 14.0% during the 2nd quarter. Conning Inc. now owns 685,017 shares of the basic materials company’s stock worth $39,060,000 after buying an additional 84,013 shares during the period. Richard Bernstein Advisors LLC lifted its holdings in WestRock by 30.8% during the 2nd quarter. Richard Bernstein Advisors LLC now owns 97,350 shares of the basic materials company’s stock worth $5,551,000 after buying an additional 22,949 shares during the period. Finally, Investec Asset Management LTD lifted its holdings in WestRock by 4.6% during the 2nd quarter. Investec Asset Management LTD now owns 2,464,357 shares of the basic materials company’s stock worth $140,518,000 after buying an additional 108,110 shares during the period. 85.27% of the stock is currently owned by institutional investors.
WestRock Company Profile
WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.
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