Smurfit Westrock Ltd (NYSE:SW) Plans Quarterly Dividend of $0.30

Smurfit Westrock Ltd (NYSE:SW) declared a quarterly dividend on Monday, October 28th, Wall Street Journal reports. Investors of record on Friday, November 15th will be given a dividend of 0.3025 per share on Wednesday, December 18th. This represents a $1.21 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, November 15th.

Smurfit Westrock Stock Performance

Shares of Smurfit Westrock stock traded down $0.55 during midday trading on Monday, hitting $45.29. 3,470,582 shares of the company were exchanged, compared to its average volume of 5,419,587. The company has a market capitalization of $23.52 billion, a price-to-earnings ratio of 50.04 and a beta of 1.05. Smurfit Westrock has a 52 week low of $38.55 and a 52 week high of $50.60. The firm has a 50 day simple moving average of $46.06.

Smurfit Westrock (NYSE:SW) last posted its earnings results on Tuesday, July 30th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.06). The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $7.91 billion. Smurfit Westrock had a return on equity of 7.13% and a net margin of 1.36%. As a group, sell-side analysts anticipate that Smurfit Westrock will post 2.6 earnings per share for the current year.

Analyst Ratings Changes

SW has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $52.00 price target on shares of Smurfit Westrock in a report on Monday, July 29th. Wells Fargo & Company dropped their price target on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. Citigroup started coverage on Smurfit Westrock in a report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $52.00 target price on shares of Smurfit Westrock in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lowered their target price on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Smurfit Westrock currently has an average rating of “Moderate Buy” and a consensus price target of $56.57.

Smurfit Westrock Company Profile

Smurfit Westrock Plc, together with its subsidiaries, manufactures, distributes, and sells containerboard, corrugated containers, and other paper-based packaging products in Ireland and internationally. The company produces containerboard that it converts into corrugated containers or sells to third parties, as well as produces other types of paper, such as consumer packaging board, sack paper, graphic paper, solid board and graphic board, and other paper-based packaging products, such as consumer packaging, solid board packaging, paper sacks, and other packaging products, including bag-in-box.