WestRock (NYSE:WRK) Announces Quarterly Earnings Results

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

WestRock Stock Performance

NYSE WRK traded up $0.05 during trading hours on Friday, hitting $51.16. 2,937,138 shares of the company’s stock traded hands, compared to its average volume of 2,137,784. The business’s fifty day moving average price is $47.73 and its two-hundred day moving average price is $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 capitalization of $13.21 billion, a P/E ratio of -7.61, a P/E/G ratio of 4.47 and a beta of 1.10. WestRock has a 52 week low of $26.85 and a 52 week high of $51.79.

WestRock Dividend Announcement

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

Insider Activity at WestRock

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Truist Financial lifted their target price on shares of WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, January 4th. Wells Fargo & Company lifted their price target on shares of WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday. StockNews.com began coverage on shares of WestRock in a research note on Thursday. They issued a “hold” rating for the company. Seaport Res Ptn lowered shares of WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $42.00 price target on shares of WestRock in a research note on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $44.50.

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.