Westrock (NYSE:WRK) Releases Earnings Results, Beats Expectations By $0.05 EPS

Westrock (NYSE:WRK) posted its quarterly earnings results on Thursday. The basic materials company reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.05, Briefing.com reports. Westrock had a return on equity of 8.97% and a net margin of 4.65%. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the previous year, the business earned $1.29 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year.

WRK stock traded up $0.71 during midday trading on Friday, hitting $39.75. 2,016,894 shares of the stock were exchanged, compared to its average volume of 2,408,343. The stock’s 50-day moving average price is $36.59 and its 200-day moving average price is $36.08. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 2.62 and a beta of 1.61. Westrock has a fifty-two week low of $31.94 and a fifty-two week high of $48.55. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.87 and a current ratio of 1.45.

A number of analysts recently weighed in on the company. Zacks Investment Research downgraded Westrock from a “hold” rating to a “sell” rating and set a $39.00 price target on the stock. in a research note on Monday, October 14th. KeyCorp restated a “sell” rating and issued a $34.00 price target on shares of Westrock in a research note on Thursday. ValuEngine cut Westrock from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. Finally, Citigroup reduced their price objective on Westrock from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $41.86.

In related news, Director John A. Luke, Jr. sold 20,603 shares of Westrock stock in a transaction on Monday, September 16th. The stock was sold at an average price of $38.68, for a total transaction of $796,924.04. Also, Director John A. Luke, Jr. sold 103,015 shares of Westrock stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $38.00, for a total value of $3,914,570.00. Insiders own 2.00% of the company’s stock.

About Westrock

WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.

Read More: Stock Symbols and CUSIP Explained

Earnings History for Westrock (NYSE:WRK)

Receive News & Ratings for Westrock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westrock and related companies with MarketBeat.com's FREE daily email newsletter.