Packaging Co. of America (NYSE:PKG) Issues Q3 2024 Earnings Guidance

Packaging Co. of America (NYSE:PKG) updated its third quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 2.450-2.450 for the period, compared to the consensus EPS estimate of 2.430. The company issued revenue guidance of -. Packaging Co. of America also updated its Q3 guidance to $2.45 EPS.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Packaging Co. of America from $208.00 to $215.00 and gave the company a buy rating in a research report on Tuesday, July 16th. BNP Paribas cut shares of Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 price objective for the company. in a research report on Friday, April 12th. Wells Fargo & Company upped their price objective on shares of Packaging Co. of America from $191.00 to $194.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. Citigroup increased their price target on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a neutral rating in a research report on Monday, July 8th. Finally, Bank of America increased their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a buy rating in a research report on Monday, June 17th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Packaging Co. of America has a consensus rating of Hold and an average price target of $186.33.

Packaging Co. of America Stock Performance

NYSE PKG traded up $0.85 during trading hours on Wednesday, reaching $193.67. The company’s stock had a trading volume of 540,765 shares, compared to its average volume of 627,149. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. The business has a 50-day simple moving average of $183.84 and a 200 day simple moving average of $178.92. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $199.00. The stock has a market cap of $17.39 billion, a PE ratio of 24.33, a PEG ratio of 5.13 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the company posted $2.31 earnings per share. Packaging Co. of America’s revenue was up 6.3% on a year-over-year basis. Equities research analysts predict that Packaging Co. of America will post 8.5 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were issued a $1.25 dividend. The ex-dividend date was Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.58%. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Insiders Place Their Bets

In other news, Director Karen E. Gowland purchased 300 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were bought at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the purchase, the director now owns 916 shares of the company’s stock, valued at $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.

About Packaging Co. of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.