Smurfit Westrock (NYSE:SW) Price Target Cut to $54.00 by Analysts at Royal Bank Of Canada

Smurfit Westrock (NYSE:SW) had its price objective reduced by Royal Bank Of Canada from $55.00 to $54.00 in a research note issued to investors on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley raised their price target on Smurfit Westrock from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Wells Fargo & Company dropped their price target on Smurfit Westrock from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday. UBS Group began coverage on Smurfit Westrock in a research note on Monday, September 15th. They issued a “buy” rating and a $60.00 price target on the stock. Truist Financial dropped their price target on Smurfit Westrock from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Smurfit Westrock in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $57.00.

Smurfit Westrock Stock Down 4.7%

Smurfit Westrock stock opened at $36.06 on Thursday. The firm has a market cap of $18.83 billion, a price-to-earnings ratio of 25.21 and a beta of 1.09. Smurfit Westrock has a 12 month low of $35.87 and a 12 month high of $56.99. The company has a current ratio of 1.48, a quick ratio of 0.95 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $43.54 and a two-hundred day simple moving average of $43.84.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.10). The firm had revenue of $8 billion during the quarter, compared to analysts’ expectations of $7.89 billion. Smurfit Westrock had a return on equity of 6.21% and a net margin of 2.40%.The business’s quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts predict that Smurfit Westrock will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, November 14th will be given a dividend of $0.4308 per share. The ex-dividend date is Friday, November 14th. This represents a $1.72 annualized dividend and a yield of 4.8%. Smurfit Westrock’s payout ratio is 260.61%.

Hedge Funds Weigh In On Smurfit Westrock

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Czech National Bank raised its holdings in Smurfit Westrock by 6.7% during the second quarter. Czech National Bank now owns 121,218 shares of the company’s stock valued at $5,231,000 after acquiring an additional 7,657 shares during the period. Centennial Wealth Advisory LLC bought a new stake in Smurfit Westrock during the second quarter valued at about $481,000. Foresight Group Ltd Liability Partnership bought a new stake in Smurfit Westrock during the first quarter valued at about $26,028,000. Allspring Global Investments Holdings LLC raised its holdings in Smurfit Westrock by 5.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 23,177 shares of the company’s stock valued at $1,063,000 after acquiring an additional 1,150 shares during the period. Finally, Great Lakes Advisors LLC bought a new stake in Smurfit Westrock during the first quarter valued at about $13,119,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Smurfit Westrock Company Profile

Smurfit Westrock Plc, together with its subsidiaries, manufactures, distributes, and sells containerboard, corrugated containers, and other paper-based packaging products in Ireland and internationally. The company produces containerboard that it converts into corrugated containers or sells to third parties, as well as produces other types of paper, such as consumer packaging board, sack paper, graphic paper, solid board and graphic board, and other paper-based packaging products, such as consumer packaging, solid board packaging, paper sacks, and other packaging products, including bag-in-box.