Packaging Co. of America (NYSE:PKG) Announces Earnings Results

Packaging Co. of America (NYSE:PKG) issued its earnings results on Monday. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09, Briefing.com reports. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Packaging Co. of America updated its Q2 guidance to $2.07 EPS and its Q2 2024 guidance to 2.070-2.070 EPS.

Packaging Co. of America Trading Down 0.3 %

Shares of Packaging Co. of America stock opened at $179.29 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57. Packaging Co. of America has a 52 week low of $122.20 and a 52 week high of $191.27. The stock has a 50 day moving average price of $181.44 and a two-hundred day moving average price of $167.88. The stock has a market capitalization of $16.09 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 4.33 and a beta of 0.78.

Packaging Co. of America Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PKG shares. BNP Paribas lowered 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 report on Friday, April 12th. Seaport Res Ptn lowered Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their price target for the company from $172.00 to $202.00 in a research report on Monday, March 4th. Truist Financial upped their target price on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America currently has an average rating of “Hold” and an average target price of $171.29.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the firm’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 of the company’s stock, valued at $8,478,319.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Thomas A. Hassfurther sold 13,850 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares in the company, valued at $33,975,365.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the transaction, the chief financial officer now owns 46,454 shares in the company, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,041 shares of company stock valued at $6,799,177. Company insiders own 1.70% of the company’s stock.

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.