FY2016 EPS Estimates for WestRock Co. (WRK) Reduced by Analyst
WestRock Co. (NYSE:WRK) – Stock analysts at KeyCorp lowered their FY2016 earnings per share (EPS) estimates for WestRock in a research note issued to investors on Sunday. KeyCorp analyst A. Josephson now anticipates that the brokerage will post earnings of $2.54 per share for the year, down from their prior 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, topping analysts’ consensus estimates of $0.66 by $0.05. WestRock had a negative net margin of 1.27% and a positive return on equity of 6.71%. The firm had revenue of $3.60 million for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the firm earned $1.15 EPS. The company’s revenue was down 2.8% on a year-over-year basis.
A number of other research analysts also recently commented on the company. Deutsche Bank AG boosted their price target on WestRock from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, September 23rd. Goldman Sachs Group Inc. assumed coverage on WestRock in a research note on Thursday, September 22nd. They issued a “neutral” rating and a $53.00 price target for the company. Credit Agricole SA boosted their price target on WestRock from $46.00 to $54.00 and gave the company an “underperform” rating in a research note on Tuesday, September 6th. Citigroup Inc. boosted their price target on WestRock from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, August 31st. Finally, Jefferies Group reaffirmed a “buy” rating on shares of WestRock in a research note on Monday, August 22nd. Two 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. The stock presently has an average rating of “Hold” and a consensus price target of $53.04.
WestRock (NYSE:WRK) traded down 1.11% on Wednesday, reaching $47.07. 680,880 shares of the company’s stock were exchanged. WestRock has a 52 week low of $29.73 and a 52 week high of $57.85. The company’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.
Hedge funds have recently made changes to their positions in the stock. Evercore Wealth Management LLC boosted its stake in shares of WestRock by 10.2% in the second quarter. Evercore Wealth Management LLC now owns 468,017 shares of the company’s stock valued at $18,192,000 after buying an additional 43,338 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of WestRock during the second quarter valued at approximately $396,000. Kentucky Retirement Systems bought a new stake in shares of WestRock during the second quarter valued at approximately $835,000. Mason Street Advisors LLC bought a new stake in shares of WestRock during the second quarter valued at approximately $1,323,000. Finally, Wolverine Asset Management LLC boosted its stake 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 valued at $1,360,000 after buying an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 90.32% of the company’s stock.
In other news, Director John A. Luke, Jr. sold 188,103 shares of the business’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $46.62, for a total transaction of $8,769,361.86. Following the sale, the director now directly owns 837,343 shares in the company, valued at $39,036,930.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.41% of the company’s stock.
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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