WestRock (WRK) Issues Quarterly Earnings Results

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WestRock (NYSE:WRK) announced its quarterly earnings data on Monday. The basic materials company reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.05, MarketWatch Earnings reports. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.28 billion. WestRock had a return on equity of 8.49% and a net margin of 11.31%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 EPS.

Shares of WRK stock opened at $46.73 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.56 and a quick ratio of 0.95. The stock has a market capitalization of $11.40 billion, a PE ratio of 11.43, a P/E/G ratio of 0.85 and a beta of 1.58. WestRock has a one year low of $39.21 and a one year high of $71.55.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Friday, November 9th will be paid a $0.455 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This is a boost from WestRock’s previous quarterly dividend of $0.43. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.89%. WestRock’s dividend payout ratio is 42.05%.

Several hedge funds have recently made changes to their positions in the company. CIBC World Markets Inc. increased its stake in shares of WestRock by 9.4% in the 2nd quarter. CIBC World Markets Inc. now owns 10,969 shares of the basic materials company’s stock valued at $625,000 after acquiring an additional 940 shares during the last quarter. Clear Harbor Asset Management LLC increased its stake in shares of WestRock by 1.9% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 52,032 shares of the basic materials company’s stock valued at $2,967,000 after acquiring an additional 990 shares during the last quarter. Greenleaf Trust increased its stake in shares of WestRock by 24.9% in the 2nd quarter. Greenleaf Trust now owns 5,309 shares of the basic materials company’s stock valued at $303,000 after acquiring an additional 1,059 shares during the last quarter. Commerce Bank increased its stake in shares of WestRock by 31.6% in the 3rd quarter. Commerce Bank now owns 4,810 shares of the basic materials company’s stock valued at $258,000 after acquiring an additional 1,156 shares during the last quarter. Finally, Canal Capital Management LLC increased its stake in shares of WestRock by 1.1% in the 3rd quarter. Canal Capital Management LLC now owns 111,068 shares of the basic materials company’s stock valued at $5,935,000 after acquiring an additional 1,181 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Several analysts have weighed in on WRK shares. Seaport Global Securities started coverage on WestRock in a report on Tuesday, October 23rd. They set a “buy” rating and a $52.00 price objective for the company. Bank of America started coverage on WestRock in a report on Tuesday, October 23rd. They set a “buy” rating for the company. Citigroup dropped their price objective on WestRock from $75.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, October 11th. Goldman Sachs Group cut WestRock from a “conviction-buy” rating to a “buy” rating and set a $64.00 price objective for the company. in a report on Wednesday, October 10th. Finally, Deutsche Bank set a $58.00 price objective on WestRock and gave the stock a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. WestRock has an average rating of “Hold” and an average target price of $64.50.

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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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Earnings History for WestRock (NYSE:WRK)

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