WestRock (NYSE:WRK) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

WestRock (NYSE:WRK) issued its earnings results on Thursday. The basic materials company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.25 by $0.14, Briefing.com reports. The company 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 EPS.

WestRock Stock Performance

Shares of NYSE WRK traded up $0.05 during midday trading 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. WestRock has a 1 year low of $26.85 and a 1 year high of $51.79. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of -7.61, a price-to-earnings-growth ratio of 4.47 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 1.55. The firm has a fifty day moving average of $47.73 and a 200 day moving average of $42.73.

WestRock Dividend Announcement

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

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, insider Vicki L. Lostetter sold 3,500 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were 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 of the company’s stock, valued at approximately $3,939,844.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.49% of the stock is currently owned by 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.