WestRock Co. to Post Q2 2017 Earnings of $0.55 Per Share, KeyCorp Forecasts (WRK)
WestRock Co. (NYSE:WRK) – Equities researchers at KeyCorp issued their Q2 2017 EPS estimates for WestRock in a research note issued on Sunday. KeyCorp analyst A. Josephson forecasts that the firm will post earnings of $0.55 per share for the quarter. KeyCorp also issued estimates for WestRock’s Q3 2017 earnings at $0.74 EPS.
WestRock (NYSE:WRK) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. The business earned $3.60 million during the quarter, compared to analyst estimates of $3.70 billion. WestRock had a positive return on equity of 6.71% and a negative net margin of 1.27%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $1.15 EPS.
Several other analysts have also recently commented on WRK. Citigroup Inc. upped their target price on shares of WestRock from $43.30 to $46.00 and gave the company a “buy” rating in a research report on Monday, June 13th. Deutsche Bank AG reiterated a “buy” rating and set a $46.00 target price on shares of WestRock in a research report on Wednesday, June 15th. Zacks Investment Research cut shares of WestRock from a “hold” rating to a “strong sell” rating in a research report on Monday, July 4th. Credit Suisse Group AG set a $50.00 target price on shares of WestRock and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, Jefferies Group upped their target price on shares of WestRock from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.04.
Shares of WestRock (NYSE:WRK) opened at 47.71 on Tuesday. The company’s market capitalization is $11.87 billion. WestRock has a 1-year low of $29.73 and a 1-year high of $57.85. The stock’s 50 day moving average price is $46.84 and its 200 day moving average price is $41.65.
Institutional investors have recently bought and sold shares of the company. Mizuho Asset Management Co. Ltd. acquired a new position in WestRock during the second quarter worth approximately $135,000. Botty Investors LLC acquired a new position in WestRock during the second quarter worth approximately $137,000. Societe Generale acquired a new position in WestRock during the second quarter worth approximately $201,000. Advisor Partners LLC acquired a new position in WestRock during the first quarter worth approximately $203,000. Finally, IFP Advisors Inc increased its position in WestRock by 6.2% in the first quarter. IFP Advisors Inc now owns 5,660 shares of the company’s stock worth $221,000 after buying an additional 328 shares in the last quarter. Institutional investors own 90.32% of the company’s stock.
In other news, Director John A. Luke, Jr. sold 188,103 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $46.62, for a total transaction of $8,769,361.86. Following the completion of the transaction, the director now directly owns 837,343 shares in the company, valued at approximately $39,036,930.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.41% of the company’s stock.
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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