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

Westrock (NYSE:WRK) released its earnings results on Thursday. The basic materials company reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.05, Briefing.com reports. Westrock had a net margin of 4.65% and a return on equity of 8.97%. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same quarter last year, the business earned $1.29 EPS. The business’s revenue was up 9.8% on a year-over-year basis.

Shares of NYSE WRK traded up $0.71 during midday trading on Friday, hitting $39.75. The company had a trading volume of 2,016,894 shares, compared to its average volume of 2,408,343. The company has a quick ratio of 0.87, a current ratio of 1.45 and a debt-to-equity ratio of 0.82. Westrock has a twelve month low of $31.94 and a twelve month high of $48.55. The business has a 50-day simple moving average of $36.66 and a two-hundred day simple moving average of $36.10. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 2.62 and a beta of 1.61.

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

WRK has been the subject of several recent analyst reports. Citigroup reduced their price objective on shares of Westrock from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. ValuEngine cut shares of Westrock from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Zacks Investment Research cut shares of Westrock from a “hold” rating to a “sell” rating and set a $39.00 price objective for the company. in a research note on Monday, October 14th. Finally, KeyCorp reiterated a “sell” rating and issued a $34.00 price objective on shares of Westrock in a research note on Thursday. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $41.86.

Westrock Company Profile

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.

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Earnings History for Westrock (NYSE:WRK)

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