Graphic Packaging (NYSE:GPK) Updates FY 2024 Earnings Guidance

Graphic Packaging (NYSE:GPK) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of -2.750 for the period, compared to the consensus estimate of 2.700. The company issued revenue guidance of -.

Graphic Packaging Stock Down 1.3 %

Graphic Packaging stock opened at $30.11 on Friday. The stock’s fifty day moving average is $28.81 and its two-hundred day moving average is $27.95. The stock has a market cap of $9.25 billion, a PE ratio of 13.62, a P/E/G ratio of 5.12 and a beta of 0.83. Graphic Packaging has a 1-year low of $20.07 and a 1-year high of $30.66. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.58.

Graphic Packaging (NYSE:GPK) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 earnings per share. On average, sell-side analysts expect that Graphic Packaging will post 2.66 EPS for the current fiscal year.

Graphic Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 5th. Investors of record on Sunday, September 15th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 1.33%. Graphic Packaging’s dividend payout ratio is currently 18.10%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GPK. Robert W. Baird upped their price objective on shares of Graphic Packaging from $30.00 to $36.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Royal Bank of Canada restated an outperform rating and set a $35.00 price target on shares of Graphic Packaging in a research note on Wednesday, September 4th. StockNews.com upgraded Graphic Packaging from a hold rating to a buy rating in a research note on Thursday, August 1st. Wells Fargo & Company increased their price objective on Graphic Packaging from $21.00 to $24.00 and gave the company an underweight rating in a report on Wednesday, July 31st. Finally, Citigroup cut their target price on shares of Graphic Packaging from $31.00 to $30.00 and set a buy rating on the stock in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $31.15.

Insider Buying and Selling

In other news, CEO Michael P. Doss sold 49,183 shares of Graphic Packaging stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $27.91, for a total value of $1,372,697.53. Following the sale, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Michael P. Doss sold 86,374 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total value of $2,422,790.70. Following the completion of the sale, the chief executive officer now directly owns 2,123,202 shares of the company’s stock, valued at approximately $59,555,816.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael P. Doss sold 49,183 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.91, for a total value of $1,372,697.53. Following the transaction, the chief executive officer now directly owns 1,909,576 shares in the company, valued at approximately $53,296,266.16. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

About Graphic Packaging

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.