Seaport Global Securities Comments on WestRock Co’s Q1 2019 Earnings (WRK)

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WestRock Co (NYSE:WRK) – Stock analysts at Seaport Global Securities decreased their Q1 2019 earnings per share (EPS) estimates for shares of WestRock in a note issued to investors on Tuesday, November 6th. Seaport Global Securities analyst M. Weintraub now forecasts that the basic materials company will earn $0.88 per share for the quarter, down from their previous forecast of $1.08. Seaport Global Securities currently has a “Buy” rating and a $52.00 target price on the stock. Seaport Global Securities also issued estimates for WestRock’s Q2 2019 earnings at $0.90 EPS, Q3 2019 earnings at $1.29 EPS and FY2019 earnings at $4.60 EPS.

WestRock (NYSE:WRK) last posted its earnings results on Monday, November 5th. The basic materials company reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.05. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.28 billion. WestRock had a return on equity of 9.26% and a net margin of 11.70%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 earnings per share.

Several other research firms have also commented on WRK. ValuEngine raised WestRock from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Wells Fargo & Co began coverage on WestRock in a report on Friday, September 21st. They issued a “market perform” rating and a $63.00 price objective for the company. Barclays decreased their price objective on WestRock from $64.00 to $62.00 and set an “equal weight” rating for the company in a report on Thursday, August 9th. Zacks Investment Research lowered WestRock from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Finally, BMO Capital Markets lowered WestRock from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $80.00 to $54.00 in a report on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $64.50.

NYSE:WRK opened at $45.81 on Thursday. The company has a market cap of $11.92 billion, a PE ratio of 11.20, a P/E/G ratio of 0.89 and a beta of 1.58. WestRock has a 52 week low of $39.21 and a 52 week high of $71.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.44 and a quick ratio of 0.95.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Friday, November 9th will be paid a dividend of $0.455 per share. This is a positive change from WestRock’s previous quarterly dividend of $0.43. This represents a $1.82 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Thursday, November 8th. WestRock’s dividend payout ratio (DPR) is presently 42.05%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Piedmont Investment Advisors LLC bought a new position in WestRock during the 2nd quarter valued at $171,000. Cerebellum GP LLC bought a new position in WestRock during the 3rd quarter valued at $182,000. Exane Asset Management bought a new position in WestRock during the 2nd quarter valued at $201,000. Charter Trust Co. bought a new position in WestRock during the 2nd quarter valued at $203,000. Finally, RFG Advisory Group LLC acquired a new stake in shares of WestRock during the 2nd quarter valued at $209,000. 85.27% of the stock is owned by hedge funds and other institutional investors.

About WestRock

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 and Estimates for WestRock (NYSE:WRK)

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