Longbow Research Raises MeadWestvaco Corp. to Buy (MWV)
MeadWestvaco Corp. (NYSE: MWV) was upgraded by equities researchers at Longbow Research from a “neutral” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $36.00 target price on the stock.
MeadWestvaco Corp. traded down 1.09% on Tuesday, hitting $28.6737. MeadWestvaco Corp. has a 52-week low of $22.75 and a 52-week high of $34.51. The company has a market cap of $5.026 billion and a price-to-earnings ratio of 21.86.
The company last announced its quarterly results on Wednesday, April 25th. It reported $0.34 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.24 EPS by $0.10. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts expect that MeadWestvaco Corp. will post $0.50 EPS next quarter.
MWV has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of MeadWestvaco Corp. in a research note to investors on Thursday, April 26th. They now have a $34.00 price target on the stock. Analysts at RBC Capital (NYSE: RY) downgraded shares of MeadWestvaco Corp. from an “outperform” rating to a “sector perform” rating in a research note to investors on Thursday, April 26th. They now have a $30.00 price target on the stock, down previously from $33.00.
MeadWestvaco Corporation (MWV) is a global packaging company, which provides packaging solutions to the healthcare, personal care and beauty, food, beverage, media and entertainment, home and garden, tobacco, and commercial print industries.