Seaport Global Securities Brokers Lift Earnings Estimates for Packaging Corp Of America (PKG)
Packaging Corp Of America (NYSE:PKG) – Equities researchers at Seaport Global Securities boosted their FY2018 earnings per share (EPS) estimates for Packaging Corp Of America in a research note issued on Friday, October 26th. Seaport Global Securities analyst M. Weintraub now anticipates that the industrial products company will post earnings of $8.02 per share for the year, up from their prior estimate of $7.90. Seaport Global Securities has a “Buy” rating and a $112.00 price objective on the stock. Seaport Global Securities also issued estimates for Packaging Corp Of America’s Q4 2018 earnings at $2.15 EPS, Q1 2019 earnings at $1.90 EPS, Q2 2019 earnings at $2.20 EPS, Q3 2019 earnings at $2.38 EPS, Q4 2019 earnings at $2.22 EPS and FY2019 earnings at $8.70 EPS.
Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, October 24th. The industrial products company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.08. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Packaging Corp Of America had a net margin of 11.54% and a return on equity of 30.77%.
Shares of Packaging Corp Of America stock opened at $90.39 on Monday. The firm has a market capitalization of $8.54 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.77. Packaging Corp Of America has a 12 month low of $83.54 and a 12 month high of $131.13. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.67 and a current ratio of 2.73.
Several institutional investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in Packaging Corp Of America in the 2nd quarter valued at $125,000. Acadian Asset Management LLC acquired a new position in Packaging Corp Of America in the 2nd quarter valued at $155,000. Flagship Harbor Advisors LLC acquired a new position in Packaging Corp Of America in the 2nd quarter valued at $165,000. Qube Research & Technologies Ltd acquired a new position in Packaging Corp Of America in the 2nd quarter valued at $220,000. Finally, Piedmont Investment Advisors LLC acquired a new position in Packaging Corp Of America in the 2nd quarter valued at $226,000. 87.21% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 14th were issued a $0.79 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.50%. Packaging Corp Of America’s payout ratio is 52.49%.
About Packaging Corp Of America
Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various 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.
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