Packaging Corporation of America (NYSE:PKG) – Investment analysts at KeyCorp lifted their FY2017 earnings per share estimates for shares of Packaging Corporation of America in a research report issued on Wednesday. KeyCorp analyst A. Josephson now expects that the industrial products company will earn $6.08 per share for the year, up from their previous estimate of $6.06. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Packaging Corporation of America’s FY2018 earnings at $6.59 EPS and FY2019 earnings at $7.35 EPS.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.05. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 27.78%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year.

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A number of other research firms also recently commented on PKG. Deutsche Bank AG reaffirmed a “hold” rating and set a $120.00 target price (up previously from $94.00) on shares of Packaging Corporation of America in a report on Monday, October 9th. Zacks Investment Research raised Packaging Corporation of America from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a report on Thursday, October 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $128.00 target price (up previously from $114.00) on shares of Packaging Corporation of America in a report on Friday, July 14th. BidaskClub downgraded Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Goldman Sachs Group, Inc. (The) raised Packaging Corporation of America from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $105.00 to $111.00 in a report on Thursday, July 13th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Packaging Corporation of America currently has a consensus rating of “Buy” and an average price target of $114.10.

Shares of Packaging Corporation of America (NYSE PKG) opened at 116.60 on Friday. The stock’s 50 day moving average is $115.83 and its 200 day moving average is $107.32. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 22.47 and a beta of 1.83. Packaging Corporation of America has a 52-week low of $78.03 and a 52-week high of $119.43.

A number of hedge funds have recently made changes to their positions in PKG. Vanguard Group Inc. increased its position in shares of Packaging Corporation of America by 2.3% in the second quarter. Vanguard Group Inc. now owns 8,430,256 shares of the industrial products company’s stock valued at $939,046,000 after buying an additional 191,348 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Packaging Corporation of America by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 4,097,547 shares of the industrial products company’s stock valued at $456,426,000 after buying an additional 62,507 shares in the last quarter. State Street Corp increased its position in shares of Packaging Corporation of America by 1.0% in the second quarter. State Street Corp now owns 3,336,381 shares of the industrial products company’s stock valued at $371,683,000 after buying an additional 31,624 shares in the last quarter. Bank of America Corp DE increased its position in shares of Packaging Corporation of America by 9.8% in the first quarter. Bank of America Corp DE now owns 2,461,352 shares of the industrial products company’s stock valued at $225,509,000 after buying an additional 219,410 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Packaging Corporation of America by 4.1% in the second quarter. Wells Fargo & Company MN now owns 2,459,871 shares of the industrial products company’s stock valued at $274,005,000 after buying an additional 96,282 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

In related news, VP Thomas A. Hassfurther sold 6,000 shares of Packaging Corporation of America stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $117.94, for a total transaction of $707,640.00. Following the completion of the transaction, the vice president now directly owns 155,071 shares in the company, valued at $18,289,073.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.

The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 15th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, September 14th. Packaging Corporation of America’s dividend payout ratio is currently 48.56%.

About Packaging Corporation of America

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

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

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