These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future. WestRock’s strategic transformation will remove low-performing assets from its portfolio, which will enable margin expansion and higher returns on invested capital. The companies will form Smurfit WestRock — set to be one of the largest packaging companies in the world.
WRK Stock News Headlines
It has an average trailing four-quarter earnings surprise of 8.3%. The company’s shares have rallied 65.9% in the past year. The Consumer Packaging segment manufactures and sells folding cartons that are used to package food, paper, beverages, dairy products, confectionery, health and beauty, and other household consumer products, as well as express mail pepperstone review packages for the overnight courier industry. The Distribution segment distributes corrugated packaging materials and other specialty packaging products, including stretch films, void fills, carton sealing tapes, and other specialty tapes; and provides contract packing services. No-moat-rated WestRock reported mixed fiscal second-quarter results.
Quarterly earnings – Rate of surprise
Shareholders of record on Tuesday, May 14th will be paid a dividend of $0.3025 per share on Wednesday, May 22nd. This represents a $1.21 annualized dividend and a dividend yield of 2.23%. During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high…
WestRock and Smurfit in talks over a potential merger
Tony Smurfit, CEO of packaging giant Smurfit Kappa, discusses the company’s https://www.broker-review.org/ announcement that they will merge with U.S. peer Westrock.
- The company’s shares have rallied 65.9% in the past year.
- Tony Smurfit, CEO of packaging giant Smurfit Kappa, discusses the company’s announcement that they will merge with U.S. peer Westrock.
- These are often companies that have high free cash flows and reward shareholders with a high…
- Net sales fell over 10% year over year as all segments reported declines.
WestRock Reports First Quarter Fiscal 2024 Results
WestRock Company WRK shares scaled a new 52-week high of $52.98 on May 17 before closing the session lower at $52.94.WRK has a market capitalization of $13.6 billion. The company’s shares have gained 92.8% over the past year compared with the industry’s 43.4% growth. New Rank-Based ScoringMarketRank™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company’s weighted average against that of other companies. WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. WestRock’s stock was trading at $41.52 at the beginning of 2024.
You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Carpenter Technology’s 2024 earnings is pegged at $4.18 per share. The consensus estimate for 2024 earnings has moved 6% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 15.1%. CRS shares have gained 134.9% in a year.The Zacks Consensus Estimate for ATI’s 2024 earnings is pegged at $2.41 per share. The Zacks Consensus Estimate for ATI’s current-year earnings has been revised 3% north in the past 60 days.
WestRock, Smurfit Kappa Discuss Merging Into $20 Billion Paper Company
Net sales fell over 10% year over year as all segments reported declines. This was largely expected given the capacity WestRock has taken offline over the last year and lower published index prices experienced in the quarter. More importantly, management noted the firm has made significant progress on its cost-savings initiatives. Management had previously targeted $300 million to $400 million of cost savings for fiscal 2024, but the company has already achieved roughly $370 million in cost savings through the fiscal second quarter. We are very encouraged by this progress, and we think the company can drive improved results through the year as end market demand recovers. 5 Wall Street equities research analysts have issued “buy,” “hold,” and “sell” ratings for WestRock in the last twelve months.
5 Wall Street research analysts have issued 12-month target prices for WestRock’s shares. Their WRK share price targets range from $37.00 to $57.00. On average, they anticipate the company’s stock price to reach $48.80 in the next twelve months. This suggests that the stock has a possible downside of 10.0%. View analysts price targets for WRK or view top-rated stocks among Wall Street analysts.
There are currently 4 hold ratings and 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should “hold” WRK shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in WRK, but not buy additional shares or sell existing shares. WestRock declared a quarterly dividend on Friday, April 26th.
The Global Paper segment manufactures containerboard, paperboard, and specialty grades primarily to corrugated packaging, folding carton, food service, liquid packaging, tobacco, and commercial print markets. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers. WestRock currently sports a Zacks Rank #1 (Strong Buy).Some other top-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS and ATI Inc. CRS flaunts a Zacks Rank #1 at present and ATI has a Zacks Rank #2 (Buy).
