Smurfit Westrock (NYSE:SW) Price Target Raised to $69.00

by · The Cerbat Gem

Smurfit Westrock (NYSE:SW – Free Report) had its price objective boosted by JPMorgan Chase & Co. from $68.00 to $69.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also issued reports on SW. Royal Bank Of Canada increased their target price on shares of Smurfit Westrock from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Smurfit Westrock in a report on Tuesday, June 23rd. They issued a “buy” rating and a $57.00 price target for the company. Weiss Ratings upgraded Smurfit Westrock from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 24th. Wall Street Zen raised Smurfit Westrock from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Citigroup raised their price objective on Smurfit Westrock from $56.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.54.

Check Out Our Latest Research Report on SW

Smurfit Westrock Stock Performance

SW opened at $46.47 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.45 and a quick ratio of 0.96. The firm has a fifty day moving average price of $46.74 and a 200 day moving average price of $43.32. Smurfit Westrock has a 1 year low of $32.73 and a 1 year high of $52.65. The stock has a market cap of $24.37 billion, a P/E ratio of 49.43, a P/E/G ratio of 1.47 and a beta of 0.95.

Smurfit Westrock (NYSE:SW – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). Smurfit Westrock had a return on equity of 4.60% and a net margin of 1.59%.The firm had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same period last year, the company posted ($0.05) earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. Equities research analysts anticipate that Smurfit Westrock will post 1.98 earnings per share for the current year.

Smurfit Westrock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Friday, August 14th were given a dividend of $0.4523 per share. This represents a $1.81 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, August 14th. Smurfit Westrock’s payout ratio is presently 192.55%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SW. Capital Research Global Investors grew its position in shares of Smurfit Westrock by 31.2% in the fourth quarter. Capital Research Global Investors now owns 36,127,677 shares of the company’s stock valued at $1,397,057,000 after purchasing an additional 8,596,558 shares in the last quarter. Geode Capital Management LLC lifted its position in Smurfit Westrock by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 13,795,987 shares of the company’s stock worth $531,483,000 after buying an additional 155,778 shares in the last quarter. Norges Bank purchased a new position in Smurfit Westrock during the fourth quarter worth approximately $495,335,000. Bank of New York Mellon Corp boosted its stake in Smurfit Westrock by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 9,054,029 shares of the company’s stock worth $350,119,000 after buying an additional 360,078 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Smurfit Westrock by 28.8% during the fourth quarter. Deutsche Bank AG now owns 7,253,010 shares of the company’s stock worth $280,474,000 after buying an additional 1,622,799 shares during the last quarter. 83.38% of the stock is owned by institutional investors and hedge funds.

About Smurfit Westrock

(Get Free Report)

Smurfit Westrock plc (NYSE:SW) is a global provider of paper and corrugated packaging solutions. The company designs and manufactures products such as corrugated shipping containers, consumer packaging, folding cartons, paper bags, displays and other fiber-based packaging used across a range of industries.

The company also produces containerboard and other paper products that support its packaging operations, along with recycling and packaging-related services. Its customers include businesses in the food and beverage, consumer products, industrial, e-commerce and retail sectors.

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