WestRock Co. (NYSE:WRK) – KeyCorp cut their FY2016 earnings per share (EPS) estimates for WestRock in a research note issued to investors on Sunday. KeyCorp analyst A. Josephson now forecasts that the brokerage will post earnings of $2.54 per share for the year, down from their previous estimate of $2.56. KeyCorp also issued estimates for WestRock’s Q4 2016 earnings at $0.62 EPS, Q1 2017 earnings at $0.57 EPS and Q4 2017 earnings at $0.64 EPS.
WestRock (NYSE:WRK) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. WestRock had a positive return on equity of 6.71% and a negative net margin of 1.27%. The firm earned $3.60 million during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the business posted $1.15 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year.
A number of other equities analysts also recently commented on the stock. Deutsche Bank AG boosted their target price on shares of WestRock from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, September 23rd. Goldman Sachs Group Inc. assumed coverage on shares of WestRock in a research note on Thursday, September 22nd. They set a “neutral” rating and a $53.00 target price for the company. Credit Agricole SA boosted their target price on shares of WestRock from $46.00 to $54.00 and gave the stock an “underperform” rating in a research note on Tuesday, September 6th. Citigroup Inc. boosted their target price on shares of WestRock from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, August 31st. Finally, Jefferies Group reiterated a “buy” rating on shares of WestRock in a research note on Monday, August 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.04.
Shares of WestRock (NYSE:WRK) traded down 1.11% during mid-day trading on Wednesday, hitting $47.07. The stock had a trading volume of 680,880 shares. WestRock has a 12 month low of $29.73 and a 12 month high of $57.85. The firm’s market cap is $11.71 billion. The stock’s 50-day moving average is $46.73 and its 200 day moving average is $41.60.
In other WestRock news, Director John A. Luke, Jr. sold 188,103 shares of the stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $46.62, for a total transaction of $8,769,361.86. Following the transaction, the director now owns 837,343 shares of the company’s stock, valued at $39,036,930.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.41% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Evercore Wealth Management LLC increased its position in WestRock by 10.2% in the second quarter. Evercore Wealth Management LLC now owns 468,017 shares of the company’s stock worth $18,192,000 after buying an additional 43,338 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of WestRock during the second quarter worth approximately $396,000. Kentucky Retirement Systems acquired a new position in shares of WestRock during the second quarter worth approximately $835,000. Mason Street Advisors LLC acquired a new position in shares of WestRock during the second quarter worth approximately $1,323,000. Finally, Wolverine Asset Management LLC increased its position in shares of WestRock by 16.7% in the second quarter. Wolverine Asset Management LLC now owns 35,000 shares of the company’s stock worth $1,360,000 after buying an additional 5,000 shares in the last quarter. 90.32% of the stock is currently owned by institutional investors.
WestRock Company Profile
Westrock Company is a provider of packaging solutions and manufactures containerboard and paperboard. The Company’s operating segments include Corrugated Packaging, Consumer Packaging, Specialty Chemicals, and Land and Development. The Company operates in North America, South America, Europe and Asia.
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