Wall Street analysts expect Westrock Co (NYSE:WRK) to post $4.73 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Westrock’s earnings, with the highest sales estimate coming in at $4.89 billion and the lowest estimate coming in at $4.50 billion. Westrock posted sales of $4.02 billion in the same quarter last year, which suggests a positive year over year growth rate of 17.7%. The firm is scheduled to issue its next earnings report before the market opens on Tuesday, April 30th.
According to Zacks, analysts expect that Westrock will report full-year sales of $18.94 billion for the current financial year, with estimates ranging from $18.66 billion to $19.15 billion. For the next year, analysts anticipate that the company will post sales of $19.20 billion, with estimates ranging from $18.62 billion to $19.89 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Westrock.
Westrock (NYSE:WRK) last issued its quarterly earnings data on Thursday, January 31st. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.03. Westrock had a net margin of 5.44% and a return on equity of 9.12%. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.58 billion.
A number of research firms have recently weighed in on WRK. Bank of America downgraded shares of Westrock from a “buy” rating to a “neutral” rating in a research report on Monday, December 17th. Barclays downgraded shares of Westrock from a “buy” rating to a “neutral” rating and reduced their target price for the company from $52.00 to $42.00 in a research report on Monday, January 7th. Citigroup downgraded shares of Westrock from a “buy” rating to a “neutral” rating and reduced their target price for the company from $52.00 to $42.00 in a research report on Monday, January 7th. Royal Bank of Canada downgraded shares of Westrock from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, January 8th. Finally, Goldman Sachs Group downgraded shares of Westrock from a “buy” rating to a “neutral” rating and reduced their target price for the company from $57.00 to $54.00 in a research report on Monday, December 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $54.33.
In other news, CFO Ward H. Dickson bought 2,645 shares of the stock in a transaction on Monday, February 4th. The shares were acquired at an average cost of $37.94 per share, for a total transaction of $100,351.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Currey M. Russell bought 5,000 shares of the stock in a transaction on Thursday, February 28th. The stock was purchased at an average price of $37.50 per share, for a total transaction of $187,500.00. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC lifted its stake in Westrock by 64.5% in the 4th quarter. Parallel Advisors LLC now owns 719 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 282 shares in the last quarter. Kings Point Capital Management purchased a new stake in Westrock in the 4th quarter worth approximately $30,000. JOYN Advisors Inc. lifted its stake in Westrock by 245.4% in the 4th quarter. JOYN Advisors Inc. now owns 867 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 616 shares in the last quarter. Oakworth Capital Inc. lifted its stake in Westrock by 87.9% in the 4th quarter. Oakworth Capital Inc. now owns 930 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 435 shares in the last quarter. Finally, Acima Private Wealth LLC purchased a new stake in Westrock in the 4th quarter worth approximately $76,000. Institutional investors and hedge funds own 87.81% of the company’s stock.
Shares of Westrock stock traded up $0.87 on Friday, reaching $39.82. 2,281,650 shares of the company traded hands, compared to its average volume of 2,845,032. Westrock has a 52 week low of $35.20 and a 52 week high of $67.01. The company has a market capitalization of $10.17 billion, a P/E ratio of 9.74, a P/E/G ratio of 1.72 and a beta of 1.61. The company has a quick ratio of 0.84, a current ratio of 1.40 and a debt-to-equity ratio of 0.84.
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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