/WestRock%20Co%20%20sign%20by-JHVEPhoto%20via%20Shutterstock.jpg)
Smurfit Westrock Plc (SW), headquartered in Dublin, Ireland, manufactures, distributes, and sells containerboard, corrugated containers, and other paper-based packaging products. Valued at $12.54 billion by market cap, the company operates in 40 countries and taps into the expertise of over 100,000 people, providing its customers with the most diverse, innovative, and sustainable range of renewable and recyclable packaging solutions. The leading sustainable packaging provider is expected to announce its fiscal second-quarter earnings for 2024 after the market closes on Tuesday, Jul. 30.
Ahead of the event, analysts expect SW to report a profit of $0.70 per share on a diluted basis, down 21.4% from $0.89 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing on another occasion.
For the full year, analysts expect SW to report EPS of $2.93, down 3% from $3.02 in fiscal 2023.
SW stock has outperformed the S&P 500’s ($SPX) marginal loss over the past five days, with shares up 4.9% during this period. Similarly, it outshined the Consumer Disc ETF Vanguard’s (VCR) 1.6% loss over the same time frame.
On Jul. 12, SW shares closed up more than 4% after JPMorgan Chase & Co (JPM) initiated coverage on the stock with a recommendation of Overweight and a price target of $66.
On Jul. 8, SW announced its primary listing on the NYSE, following the completion of the combination of Smurfit Kappa and WestRock on Jul. 5. The company also has a standard listing on the London Stock Exchange (LSE) under the ticker ‘SWR’. SW shares closed down more than 3% on the day it began trading.
Analysts’ consensus opinion on SW stock is bullish, with a “Moderate Buy” rating overall. Out of 11 analysts covering the stock, six advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, and four give a “Hold.” The average analyst price target for SW is $56.25, indicating a potential upside of 15.2% from the current levels.
On the date of publication, Dipanjan Banchur did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
