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

Packaging Co. of America (NYSE:PKG) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.45 for the period, compared to the consensus estimate of $2.43. Packaging Co. of America also updated its Q3 2024 guidance to 2.450-2.450 EPS.

Packaging Co. of America Stock Up 1.3 %

NYSE PKG traded up $2.60 during trading on Friday, reaching $196.84. 14,241 shares of the company’s stock traded hands, compared to its average volume of 625,904. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The firm has a market cap of $17.68 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 5.12 and a beta of 0.77. The company’s 50 day simple moving average is $184.30 and its two-hundred day simple moving average is $179.13. Packaging Co. of America has a 12-month low of $143.82 and a 12-month high of $199.00.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.39%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 EPS. As a group, sell-side analysts forecast that Packaging Co. of America will post 8.5 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 14th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Friday, June 14th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Analyst Ratings Changes

PKG has been the topic of a number of recent analyst reports. Truist Financial raised their price target on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a buy rating in a report on Thursday. BNP Paribas cut shares of Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 price target on the stock. in a report on Friday, April 12th. StockNews.com upgraded shares of Packaging Co. of America from a hold rating to a buy rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an overweight rating in a research note on Thursday. Finally, Citigroup lifted their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a neutral rating in a research note on Monday, July 8th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $190.50.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, Director Karen E. Gowland acquired 300 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was acquired at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the purchase, the director now owns 916 shares in the company, valued at approximately $166,766.96. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Packaging Co. of America Company Profile

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.