MeadWestvaco Posts Mixed Results (MWV)

Richmond, Virginia-based MeadWestvaco Corporation MWV announced on Wednesday morning that it beat consensus Wall Street earnings estimates, while missing revenue expectations. MeadWestvaco Corporation reported that its 4th quarter net income from continuing operations rose to $68 million, or 40 cents per share, up from $53 million, or 30 cents per share, a year earlier. Excluding special items, the company's earnings from continuing operations came in at 41 cents per share. MeadWestvaco Corporation reported revenue of $1.5 billion, up from $1.45 billion a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 39 cents per share, on revenue of $1.53 billion. MeadWestvaco Corporation (MWV) closed the previous trading day at $28.04 per share. Analysts covering the company's stock give it a consensus price target of $30.50 per share. MeadWestvaco Corporation provides packaging solutions to many of the world's most-admired brands in the healthcare, beauty and personal care, food, beverage, home and garden, tobacco, and commercial print industries. The company's businesses also include Consumer & Office Products, Specialty Chemicals, and the Community Development and Land Management Group. Read more from Benzinga's Company news.