Westrock Co (NYSE:WRK) announced a quarterly dividend on Thursday, July 30th, RTT News reports. Shareholders of record on Friday, August 14th will be given a dividend of 0.20 per share by the basic materials company on Tuesday, August 25th. This represents a $0.80 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, August 13th.
Westrock has increased its dividend payment by an average of 20.0% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Westrock has a dividend payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Westrock to earn $2.04 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 39.2%.
NYSE:WRK opened at $26.86 on Friday. The stock has a 50-day simple moving average of $28.48 and a two-hundred day simple moving average of $31.38. Westrock has a 52-week low of $21.50 and a 52-week high of $44.39. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.07 and a current ratio of 1.75. The firm has a market capitalization of $6.96 billion, a PE ratio of 8.19 and a beta of 1.49.
Westrock (NYSE:WRK) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.06. Westrock had a return on equity of 7.98% and a net margin of 4.67%. The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.50 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. Westrock’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities analysts forecast that Westrock will post 2.23 earnings per share for the current fiscal year.
Several brokerages have recently commented on WRK. BMO Capital Markets lowered their price objective on Westrock from $42.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 6th. Deutsche Bank lowered their price objective on Westrock from $42.00 to $34.00 and set a “hold” rating on the stock in a research report on Tuesday, May 26th. KeyCorp lowered their price objective on Westrock from $27.00 to $23.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 5th. Wells Fargo & Co lowered their price objective on Westrock from $52.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Finally, Morgan Stanley initiated coverage on Westrock in a research report on Monday, June 15th. They issued an “equal weight” rating and a $28.00 price objective on the stock. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $37.82.
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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