Smurfit Westrock (NYSE:SW) Price Target Cut to $45.00 by Analysts at Argus

Smurfit Westrock (NYSE:SW) had its price target cut by Argus from $55.00 to $45.00 in a research report released on Tuesday, Marketbeat.com reports. They currently have a buy rating on the stock.

A number of other analysts also recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating and set a $52.00 target price on shares of Smurfit Westrock in a research report on Monday, November 3rd. Barclays decreased their price objective on shares of Smurfit Westrock from $63.00 to $47.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Seaport Res Ptn raised shares of Smurfit Westrock from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. UBS Group began coverage on shares of Smurfit Westrock in a research report on Monday, September 15th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Royal Bank Of Canada decreased their price target on Smurfit Westrock from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.60.

Smurfit Westrock Stock Down 2.1%

Shares of NYSE:SW opened at $35.30 on Tuesday. The firm has a market cap of $18.43 billion, a P/E ratio of 24.68 and a beta of 1.10. Smurfit Westrock has a 12-month low of $32.73 and a 12-month high of $56.05. The business has a fifty day simple moving average of $38.10 and a 200 day simple moving average of $42.38. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 0.72.

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

Smurfit Westrock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.4308 per share. The ex-dividend date is Friday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 4.9%. Smurfit Westrock’s dividend payout ratio is currently 120.28%.

Institutional Trading of Smurfit Westrock

Several large investors have recently made changes to their positions in the company. New York State Common Retirement Fund increased its stake in Smurfit Westrock by 7.0% during the 2nd quarter. New York State Common Retirement Fund now owns 520,366 shares of the company’s stock valued at $22,454,000 after purchasing an additional 34,088 shares in the last quarter. Banque Pictet & Cie SA grew its holdings in shares of Smurfit Westrock by 42.5% during the second quarter. Banque Pictet & Cie SA now owns 355,610 shares of the company’s stock valued at $15,345,000 after buying an additional 106,040 shares during the last quarter. Czech National Bank grew its holdings in shares of 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 buying an additional 7,657 shares during the last quarter. Metis Global Partners LLC increased its position in shares of Smurfit Westrock by 14.3% during the second quarter. Metis Global Partners LLC now owns 60,661 shares of the company’s stock worth $2,618,000 after acquiring an additional 7,588 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Smurfit Westrock by 16.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 58,472 shares of the company’s stock worth $2,523,000 after acquiring an additional 8,161 shares during the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.

About Smurfit Westrock

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.