Brokerages Expect Westrock Co (NYSE:WRK) to Post $0.57 Earnings Per Share

Wall Street analysts predict that Westrock Co (NYSE:WRK) will post earnings per share (EPS) of $0.57 for the current quarter, according to Zacks. Three analysts have issued estimates for Westrock’s earnings. The lowest EPS estimate is $0.53 and the highest is $0.60. Westrock reported earnings of $0.83 per share in the same quarter last year, which would indicate a negative year over year growth rate of 31.3%. The company is scheduled to announce its next earnings results before the market opens on Thursday, January 30th.

On average, analysts expect that Westrock will report full-year earnings of $3.29 per share for the current financial year, with EPS estimates ranging from $2.95 to $3.50. For the next fiscal year, analysts expect that the company will report earnings of $3.52 per share, with EPS estimates ranging from $3.07 to $3.85. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Westrock.

Westrock (NYSE:WRK) last released its quarterly earnings data on Thursday, November 7th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Westrock had a net margin of 4.72% and a return on equity of 8.81%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.29 earnings per share.

A number of brokerages have commented on WRK. KeyCorp reaffirmed a “sell” rating and set a $34.00 target price on shares of Westrock in a report on Thursday, November 7th. BNP Paribas assumed coverage on shares of Westrock in a research note on Monday, December 2nd. They issued an “outperform” rating and a $48.00 price objective for the company. Wells Fargo & Co raised shares of Westrock from an “equal weight” rating to an “overweight” rating and set a $52.00 price objective for the company in a research note on Thursday, January 2nd. Citigroup raised shares of Westrock from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $38.00 to $48.00 in a research note on Monday, January 6th. Finally, Exane BNP Paribas initiated coverage on shares of Westrock in a research note on Monday, December 2nd. They issued an “outperform” rating and a $48.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $44.78.

In other Westrock news, Director John A. Luke, Jr. sold 41,206 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $40.64, for a total transaction of $1,674,611.84. Also, Director John A. Luke, Jr. sold 188,659 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $40.67, for a total transaction of $7,672,761.53. Following the transaction, the director now owns 689,418 shares of the company’s stock, valued at approximately $28,038,630.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 300 shares of company stock valued at $12,467 and have sold 255,618 shares valued at $10,378,523. Company insiders own 1.92% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in WRK. Nuveen Asset Management LLC lifted its position in Westrock by 5,977.7% during the second quarter. Nuveen Asset Management LLC now owns 1,764,481 shares of the basic materials company’s stock valued at $64,350,000 after purchasing an additional 1,735,449 shares during the last quarter. Invesco Ltd. lifted its position in Westrock by 77.0% during the second quarter. Invesco Ltd. now owns 3,772,027 shares of the basic materials company’s stock valued at $137,566,000 after purchasing an additional 1,640,518 shares during the last quarter. Pictet Asset Management Ltd. lifted its position in Westrock by 50.1% during the third quarter. Pictet Asset Management Ltd. now owns 2,396,181 shares of the basic materials company’s stock valued at $87,341,000 after purchasing an additional 799,557 shares during the last quarter. Vanguard Group Inc. lifted its position in Westrock by 1.7% during the second quarter. Vanguard Group Inc. now owns 29,178,346 shares of the basic materials company’s stock valued at $1,064,134,000 after purchasing an additional 482,964 shares during the last quarter. Finally, Strs Ohio lifted its position in Westrock by 544.8% during the third quarter. Strs Ohio now owns 503,638 shares of the basic materials company’s stock valued at $18,357,000 after purchasing an additional 425,532 shares during the last quarter. Institutional investors and hedge funds own 80.92% of the company’s stock.

Shares of NYSE WRK opened at $43.68 on Friday. The company has a market cap of $11.26 billion, a PE ratio of 10.98, a P/E/G ratio of 3.11 and a beta of 1.64. The firm’s 50 day moving average price is $42.06 and its 200-day moving average price is $37.96. Westrock has a 52-week low of $31.94 and a 52-week high of $44.39. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.83 and a current ratio of 1.45.

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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