Westrock Co (NYSE:WRK) Forecasted to Post FY2019 Earnings of $3.78 Per Share

Westrock Co (NYSE:WRK) – Analysts at KeyCorp reduced their FY2019 EPS estimates for Westrock in a research note issued to investors on Tuesday, June 25th, Zacks Investment Research reports. KeyCorp analyst A. Josephson now anticipates that the basic materials company will post earnings of $3.78 per share for the year, down from their prior forecast of $3.81. KeyCorp currently has a “Underweight” rating and a $32.00 target price on the stock. KeyCorp also issued estimates for Westrock’s Q4 2019 earnings at $1.17 EPS and FY2020 earnings at $2.71 EPS.

Several other equities analysts have also recently weighed in on WRK. UBS Group reiterated a “sell” rating on shares of in a report on Monday, June 24th. Deutsche Bank cut J B Hunt Transport Services from a “buy” rating to a “sell” rating and set a $98.51 price objective on the stock. in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $45.78.

Shares of NYSE:WRK traded down $0.10 during trading on Wednesday, hitting $35.24. 2,519,300 shares of the company’s stock traded hands, compared to its average volume of 2,510,712. Westrock has a 52 week low of $32.01 and a 52 week high of $58.28. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.80. The firm has a market cap of $9.00 billion, a P/E ratio of 8.61, a price-to-earnings-growth ratio of 2.02 and a beta of 1.61. The firm has a 50-day simple moving average of $36.10.

Westrock (NYSE:WRK) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.17. Westrock had a return on equity of 9.03% and a net margin of 4.89%. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the business posted $0.83 EPS. Westrock’s revenue for the quarter was up 15.0% on a year-over-year basis.

A number of institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its position in Westrock by 8.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,622 shares of the basic materials company’s stock valued at $139,000 after buying an additional 293 shares during the last quarter. CSat Investment Advisory L.P. increased its position in shares of Westrock by 60.0% during the 1st quarter. CSat Investment Advisory L.P. now owns 795 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 298 shares during the last quarter. Leavell Investment Management Inc. increased its position in shares of Westrock by 4.5% during the 1st quarter. Leavell Investment Management Inc. now owns 7,171 shares of the basic materials company’s stock worth $275,000 after purchasing an additional 312 shares during the last quarter. Financial Advocates Investment Management increased its position in shares of Westrock by 17.0% during the 4th quarter. Financial Advocates Investment Management now owns 2,439 shares of the basic materials company’s stock worth $210,000 after purchasing an additional 355 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in shares of Westrock by 1.0% during the 1st quarter. Crossmark Global Holdings Inc. now owns 42,440 shares of the basic materials company’s stock worth $1,628,000 after purchasing an additional 410 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

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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