Equities Analysts Set Expectations for WestRock’s Q3 2024 Earnings (NYSE:WRK)

WestRock (NYSE:WRKFree Report) – Research analysts at Seaport Res Ptn boosted their Q3 2024 earnings estimates for WestRock in a research note issued to investors on Monday, January 29th. Seaport Res Ptn analyst M. Weintraub now forecasts that the basic materials company will earn $0.69 per share for the quarter, up from their previous forecast of $0.55. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for WestRock’s current full-year earnings is $2.44 per share. Seaport Res Ptn also issued estimates for WestRock’s Q4 2024 earnings at $0.87 EPS and Q1 2025 earnings at $0.78 EPS.

Several other research firms have also issued reports on WRK. StockNews.com started coverage on shares of WestRock in a report on Saturday. They set a “hold” rating for the company. Wells Fargo & Company reiterated an “equal weight” rating and set a $45.00 target price (up previously from $42.00) on shares of WestRock in a research report on Thursday, January 11th. Royal Bank of Canada increased their target price on shares of WestRock from $38.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, November 10th. Truist Financial increased their price target on shares of WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, January 4th. Finally, Argus raised shares of WestRock from a “hold” rating to a “buy” rating in a research note on Friday, November 17th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $39.14.

Read Our Latest Stock Analysis on WRK

WestRock Trading Down 1.1 %

Shares of WestRock stock opened at $41.37 on Tuesday. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of -6.41, a PEG ratio of 2.72 and a beta of 1.06. The company has a quick ratio of 0.95, a current ratio of 1.42 and a debt-to-equity ratio of 0.80. WestRock has a 12-month low of $26.84 and a 12-month high of $43.58. The firm’s 50-day moving average price is $41.20 and its two-hundred day moving average price is $36.96.

WestRock (NYSE:WRKGet Free Report) last released its quarterly earnings results on Thursday, November 9th. The basic materials company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. WestRock had a negative net margin of 8.12% and a positive return on equity of 7.52%. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same period last year, the firm earned $1.43 earnings per share. WestRock’s revenue for the quarter was down 7.4% compared to the same quarter last year.

WestRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Friday, February 9th will be issued a dividend of $0.3025 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $1.21 annualized dividend and a dividend yield of 2.92%. WestRock’s dividend payout ratio (DPR) is -18.76%.

Institutional Trading of WestRock

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its position in WestRock by 14.2% during the third quarter. Fifth Third Bancorp now owns 9,433 shares of the basic materials company’s stock valued at $338,000 after purchasing an additional 1,174 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in WestRock by 13.3% in the second quarter. PNC Financial Services Group Inc. now owns 43,318 shares of the basic materials company’s stock valued at $1,259,000 after buying an additional 5,073 shares during the last quarter. National Bank of Canada FI raised its stake in WestRock by 635.3% in the third quarter. National Bank of Canada FI now owns 657,681 shares of the basic materials company’s stock valued at $23,406,000 after buying an additional 568,232 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in WestRock in the second quarter valued at about $47,000. Finally, AMF Tjanstepension AB raised its stake in WestRock by 24.2% in the third quarter. AMF Tjanstepension AB now owns 303,203 shares of the basic materials company’s stock valued at $10,862,000 after buying an additional 59,130 shares during the last quarter. Hedge funds and other institutional investors own 85.51% of the company’s stock.

WestRock Company Profile

(Get Free Report)

WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates through four segments: Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.

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