Westrock (NYSE:WRK) Announces Quarterly Earnings Results

Westrock (NYSE:WRK) issued its earnings results on Thursday. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.09, Morningstar.com reports. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.83 billion. Westrock had a return on equity of 9.03% and a net margin of 4.89%. Westrock’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 earnings per share.

NYSE:WRK opened at $37.21 on Friday. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 2.14 and a beta of 1.61. Westrock has a fifty-two week low of $32.01 and a fifty-two week high of $57.23. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.77 and a current ratio of 1.29. The company’s 50 day moving average is $36.56.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Thursday, August 8th. Westrock’s dividend payout ratio (DPR) is presently 44.50%.

Several large investors have recently added to or reduced their stakes in WRK. Kavar Capital Partners LLC bought a new position in Westrock in the second quarter worth $60,000. Stephens Inc. AR raised its holdings in Westrock by 2.6% in the second quarter. Stephens Inc. AR now owns 25,271 shares of the basic materials company’s stock worth $922,000 after purchasing an additional 650 shares in the last quarter. Hartford Financial Management Inc. raised its holdings in Westrock by 9.1% in the second quarter. Hartford Financial Management Inc. now owns 33,746 shares of the basic materials company’s stock worth $1,231,000 after purchasing an additional 2,813 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management bought a new position in Westrock in the second quarter worth $237,000. Finally, Amica Retiree Medical Trust raised its holdings in Westrock by 72.8% in the second quarter. Amica Retiree Medical Trust now owns 7,894 shares of the basic materials company’s stock worth $288,000 after purchasing an additional 3,326 shares in the last quarter. 83.34% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have issued reports on WRK. KeyCorp lowered Westrock from a “sector weight” rating to an “underweight” rating and set a $32.00 target price for the company. in a research note on Monday, July 15th. Deutsche Bank lowered Westrock from a “buy” rating to a “hold” rating and cut their target price for the stock from $51.00 to $42.00 in a research note on Wednesday, April 17th. Finally, UBS Group set a $44.00 price objective on Westrock and gave the company a “buy” rating in a research note on Monday, June 24th. 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’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $45.78.

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 for Westrock (NYSE:WRK)

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