FY2017 EPS Estimates for Westrock Company (WRK) Reduced by KeyCorp
Westrock Company (NYSE:WRK) – Equities researchers at KeyCorp lowered their FY2017 EPS estimates for Westrock in a research note issued to investors on Wednesday. KeyCorp analyst A. Josephson now forecasts that the basic materials company will earn $2.60 per share for the year, down from their prior estimate of $2.66. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Westrock’s FY2018 earnings at $3.97 EPS.
Several other analysts also recently issued reports on the stock. Deutsche Bank AG reissued a “buy” rating and set a $65.00 target price (up from $61.00) on shares of Westrock in a research note on Monday, October 9th. Royal Bank Of Canada reissued a “buy” rating and set a $65.00 target price on shares of Westrock in a research note on Monday, September 25th. BidaskClub raised shares of Westrock from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Barclays PLC boosted their target price on shares of Westrock from $54.00 to $58.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $69.00 target price on shares of Westrock in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Westrock has an average rating of “Buy” and an average target price of $64.33.
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Shares of Westrock (WRK) opened at 59.13 on Monday. The stock has a 50 day moving average price of $57.27 and a 200-day moving average price of $55.82. The stock has a market cap of $14.83 billion, a P/E ratio of 35.88 and a beta of 1.36. Westrock has a 12 month low of $43.79 and a 12 month high of $60.36.
Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.10. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.66 billion. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 earnings per share.
In other news, Director John A. Luke, Jr. sold 153,718 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $55.40, for a total value of $8,515,977.20. Following the transaction, the director now directly owns 543,291 shares of the company’s stock, valued at $30,098,321.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $57.86, for a total transaction of $598,445.98. The disclosure for this sale can be found here. Insiders sold 443,379 shares of company stock worth $24,874,301 over the last ninety days. 2.68% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of WRK. Mckinley Capital Management LLC Delaware acquired a new position in shares of Westrock in the second quarter worth $100,000. FNY Partners Fund LP increased its stake in shares of Westrock by 700.0% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $104,000 after acquiring an additional 1,750 shares during the last quarter. Sun Life Financial INC increased its stake in shares of Westrock by 26,114.3% in the second quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock worth $104,000 after acquiring an additional 1,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Westrock by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock worth $144,000 after acquiring an additional 509 shares during the last quarter. Finally, Global X Management Co. LLC increased its stake in shares of Westrock by 36.9% in the first quarter. Global X Management Co. LLC now owns 3,217 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 867 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.
Westrock Company Profile
WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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