Westrock Co Plans Quarterly Dividend of $0.20 (NYSE:WRK)

Westrock Co (NYSE:WRK) declared a quarterly dividend on Thursday, July 30th, RTT News reports. Investors of record on Friday, August 14th will be paid a dividend of 0.20 per share by the basic materials company on Tuesday, August 25th. This represents a $0.80 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, August 13th.

Westrock has increased its dividend by an average of 20.0% annually over the last three years and has raised its dividend every year for the last 4 years. Westrock has a dividend payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Westrock to earn $2.04 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 39.2%.

Shares of WRK opened at $26.86 on Friday. The business’s 50-day moving average is $28.48 and its two-hundred day moving average is $31.38. The company has a market capitalization of $6.96 billion, a P/E ratio of 8.19 and a beta of 1.49. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.07 and a current ratio of 1.75. Westrock has a fifty-two week low of $21.50 and a fifty-two week high of $44.39.

Westrock (NYSE:WRK) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.50 billion. Westrock had a return on equity of 7.98% and a net margin of 4.67%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. Analysts forecast that Westrock will post 2.23 EPS for the current year.

Several brokerages have weighed in on WRK. Wells Fargo & Co cut their price target on Westrock from $52.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Morgan Stanley began coverage on Westrock in a research report on Monday, June 15th. They set an “equal weight” rating and a $28.00 price target on the stock. KeyCorp cut their price target on Westrock from $27.00 to $23.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 5th. Deutsche Bank dropped their target price on Westrock from $42.00 to $34.00 and set a “hold” rating on the stock in a research report on Tuesday, May 26th. Finally, Royal Bank of Canada restated a “hold” rating and set a $31.00 target price on shares of Westrock in a research report on Thursday, April 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Westrock has a consensus rating of “Hold” and a consensus price target of $37.82.

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.

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Dividend History for Westrock (NYSE:WRK)

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