Packaging Co. of America (NYSE:PKG) Updates Q2 Earnings Guidance

Packaging Co. of America (NYSE:PKG) updated its second quarter earnings guidance on Monday. The company provided EPS guidance of $2.07 for the period, compared to the consensus EPS estimate of $2.22. Packaging Co. of America also updated its Q2 2024 guidance to 2.070-2.070 EPS.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Citigroup lifted their price target on Packaging Co. of America from $172.00 to $183.00 and gave the stock a neutral rating in a report on Thursday, April 4th. Truist Financial boosted their price objective on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a buy rating in a report on Thursday, January 4th. StockNews.com lowered shares of Packaging Co. of America from a buy rating to a hold rating in a report on Friday. Bank of America upgraded shares of Packaging Co. of America from a neutral rating to a buy rating and boosted their price objective for the company from $172.00 to $202.00 in a report on Monday, March 4th. Finally, BNP Paribas lowered 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 research note on Friday, April 12th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $171.29.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $179.29 on Tuesday. Packaging Co. of America has a one year low of $122.20 and a one year high of $191.27. The company has a market cap of $16.09 billion, a PE ratio of 21.14, a P/E/G ratio of 4.33 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57. The business has a 50-day simple moving average of $181.44 and a 200-day simple moving average of $167.88.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $2.20 earnings per share. On average, equities research analysts forecast that Packaging Co. of America will post 8.31 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 58.96%.

Insider Activity at Packaging Co. of America

In related news, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the transaction, the vice president now directly owns 183,930 shares of the company’s stock, valued at $31,967,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares in the company, valued at $8,478,319.54. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the sale, the vice president now owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The disclosure for this sale can be found here. Insiders sold 38,041 shares of company stock valued at $6,799,177 over the last three months. 1.70% of the stock is owned by corporate insiders.

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.