Graphic Packaging (NYSE:GPK) Issues Earnings Results, Beats Estimates By $0.03 EPS

Graphic Packaging (NYSE:GPK) posted its quarterly earnings results on Tuesday. The industrial products company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03, Briefing.com reports. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.38 billion. Graphic Packaging had a return on equity of 32.55% and a net margin of 7.36%. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. Graphic Packaging updated its FY 2024 guidance to 2.650-2.850 EPS.

Graphic Packaging Stock Up 0.7 %

NYSE GPK opened at $26.04 on Thursday. The company has a fifty day moving average of $27.51 and a two-hundred day moving average of $25.05. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 11.78 and a beta of 0.86. The company has a quick ratio of 0.42, a current ratio of 1.24 and a debt-to-equity ratio of 1.72. Graphic Packaging has a 52 week low of $20.07 and a 52 week high of $29.50.

Graphic Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.54%. Graphic Packaging’s dividend payout ratio is presently 18.10%.

Insider Transactions at Graphic Packaging

In related news, EVP Joseph P. Yost sold 70,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $26.20, for a total transaction of $1,834,000.00. Following the transaction, the executive vice president now directly owns 205,231 shares in the company, valued at approximately $5,377,052.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GPK shares. Citigroup upped their target price on shares of Graphic Packaging from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Wells Fargo & Company reissued an “underweight” rating and set a $21.00 price objective on shares of Graphic Packaging in a report on Monday, April 1st. StockNews.com cut Graphic Packaging from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, Robert W. Baird increased their price target on Graphic Packaging from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $28.44.

Graphic Packaging Company Profile

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.