WestRock (NYSE:WRK) Announces Earnings Results

WestRock (NYSE:WRK) posted its quarterly earnings results on Thursday. The basic materials company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.14, Briefing.com reports. WestRock had a positive return on equity of 6.87% and a negative net margin of 8.58%. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. The business’s quarterly revenue was down 10.4% on a year-over-year basis.

WestRock Stock Performance

Shares of NYSE:WRK traded up $0.05 during trading on Friday, reaching $51.16. 2,937,138 shares of the stock were exchanged, compared to its average volume of 2,137,784. WestRock has a 12 month low of $26.85 and a 12 month high of $51.79. The stock has a 50-day moving average price of $47.73 and a 200-day moving average price of $42.73. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. The firm has a market cap of $13.21 billion, a PE ratio of -7.61, a PEG ratio of 4.47 and a beta of 1.10.

WestRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.3025 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.21 annualized dividend and a yield of 2.37%. WestRock’s dividend payout ratio (DPR) is presently -18.01%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WRK shares. Wells Fargo & Company raised their target price on shares of WestRock from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Friday. Royal Bank of Canada reissued a “sector perform” rating and issued a $42.00 price objective on shares of WestRock in a research report on Friday, February 2nd. Seaport Res Ptn cut shares of WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. StockNews.com initiated coverage on WestRock in a report on Thursday. They set a “hold” rating for the company. Finally, Truist Financial upped their price objective on WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $44.50.

Insider Transactions at WestRock

In related news, insider Vicki L. Lostetter sold 3,500 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $42.77, for a total value of $149,695.00. Following the completion of the sale, the insider now directly owns 92,117 shares in the company, valued at approximately $3,939,844.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.49% of the stock is owned by corporate insiders.

WestRock Company Profile

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.