Packaging Co. of America (NYSE:PKG) Releases Q2 2024 Earnings Guidance

Packaging Co. of America (NYSE:PKG) updated its second quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 2.070-2.070 for the period, compared to the consensus estimate of 2.220. The company issued revenue guidance of -. Packaging Co. of America also updated its Q2 guidance to $2.07 EPS.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BNP Paribas cut Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 target price for the company. in a report on Friday, April 12th. Citigroup lowered their target price on Packaging Co. of America from $183.00 to $181.00 and set a neutral rating for the company in a report on Thursday. Seaport Res Ptn cut Packaging Co. of America from a buy rating to a neutral rating in a report on Monday, January 29th. StockNews.com cut Packaging Co. of America from a buy rating to a hold rating in a report on Friday, April 19th. Finally, Bank of America raised Packaging Co. of America from a neutral rating to a buy rating and upped their target price for the stock from $172.00 to $202.00 in a report on Monday, March 4th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $173.57.

Packaging Co. of America Trading Down 1.5 %

Shares of Packaging Co. of America stock traded down $2.67 on Thursday, hitting $171.25. 541,829 shares of the company’s stock traded hands, compared to its average volume of 699,110. Packaging Co. of America has a one year low of $122.20 and a one year high of $191.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The company has a fifty day moving average of $181.73 and a two-hundred day moving average of $168.06. The company has a market capitalization of $15.37 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 4.15 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.63 by $0.09. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 EPS. As a group, sell-side analysts expect that Packaging Co. of America will post 8.24 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a $1.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.92%. Packaging Co. of America’s payout ratio is currently 62.50%.

Insiders Place Their Bets

In other news, VP Thomas A. Hassfurther sold 14,191 shares of the 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 sale, 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 document filed with the SEC, which is accessible through the SEC website. In related news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the sale, the vice president now directly owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas A. Hassfurther sold 14,191 shares of the 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 sale, the vice president now directly owns 183,930 shares of the company’s stock, valued at $31,967,034. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,041 shares of company stock worth $6,799,177. Corporate insiders own 1.60% 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.