Packaging Corp. of America (NYSE:PKG) – Investment analysts at Credit Agricole SA dropped their FY2016 earnings per share (EPS) estimates for shares of Packaging Corp. of America in a report issued on Tuesday. Credit Agricole SA analyst M. Connelly now expects that the brokerage will post earnings of $5.04 per share for the year, down from their prior forecast of $5.05. Credit Agricole SA currently has a “Buy” rating and a $95.00 target price on the stock. Credit Agricole SA also issued estimates for Packaging Corp. of America’s FY2018 earnings at $6.87 EPS.

Packaging Corp. of America (NYSE:PKG) last posted its earnings results on Thursday, July 21st. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Packaging Corp. of America had a return on equity of 27.74% and a net margin of 7.95%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business posted $1.18 earnings per share.

Earnings History and Estimates for Packaging Corp. of America (NYSE:PKG)

Other research analysts also recently issued reports about the company. Deutsche Bank AG downgraded Packaging Corp. of America from a “buy” rating to a “hold” rating and lifted their price target for the stock from $73.00 to $75.00 in a research report on Friday, July 22nd. BMO Capital Markets reaffirmed a “buy” rating on shares of Packaging Corp. of America in a research report on Thursday, July 7th. Jefferies Group lifted their price target on Packaging Corp. of America from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, July 25th. Buckingham Research downgraded Packaging Corp. of America from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $72.00 to $74.00 in a research report on Monday, July 18th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $69.00 price target on shares of Packaging Corp. of America in a research report on Thursday, July 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $78.46.

Shares of Packaging Corp. of America (NYSE:PKG) opened at 82.60 on Friday. The company has a market capitalization of $7.71 billion, a PE ratio of 17.55 and a beta of 1.76. The company’s 50 day moving average is $80.46 and its 200-day moving average is $71.35. Packaging Corp. of America has a 52 week low of $44.32 and a 52 week high of $83.13.

Hedge funds have recently made changes to their positions in the stock. MSI Financial Services Inc boosted its stake in shares of Packaging Corp. of America by 3.7% in the third quarter. MSI Financial Services Inc now owns 1,232 shares of the company’s stock worth $100,000 after buying an additional 44 shares during the period. Seven Eight Capital LLC acquired a new position in Packaging Corp. of America during the second quarter worth approximately $120,000. Ropes Wealth Advisors LLC raised its position in Packaging Corp. of America by 1,338.0% in the first quarter. Ropes Wealth Advisors LLC now owns 2,042 shares of the company’s stock worth $123,000 after buying an additional 1,900 shares in the last quarter. Barnett & Company Inc. acquired a new position in Packaging Corp. of America during the first quarter worth approximately $131,000. Finally, Van ECK Associates Corp raised its position in Packaging Corp. of America by 13.6% in the second quarter. Van ECK Associates Corp now owns 2,528 shares of the company’s stock worth $169,000 after buying an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 86.87% of the company’s stock.

In other Packaging Corp. of America news, SVP Kent A. Pflederer sold 1,100 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $74.30, for a total value of $81,730.00. Following the sale, the senior vice president now directly owns 34,623 shares in the company, valued at $2,572,488.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

The business also recently declared a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Thursday, September 15th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.05%. This is a boost from Packaging Corp. of America’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, September 13th. Packaging Corp. of America’s dividend payout ratio is 53.62%.

Packaging Corp. of America Company Profile

Packaging Corporation of America (PCA) is a producer of containerboard and corrugated packaging products, and uncoated free sheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Company operates over eight mills and approximately 90 corrugated products manufacturing plants.

5 Day Chart for NYSE:PKG

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