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

Packaging Co. of America (NYSE:PKG) updated its second quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.07 for the period, compared to the consensus estimate of $2.22. Packaging Co. of America also updated its Q2 2024 guidance to 2.070-2.070 EPS.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. BNP Paribas lowered Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 price objective on the stock. in a research report on Friday, April 12th. Bank of America raised Packaging Co. of America from a neutral rating to a buy rating and raised their price objective for the company from $172.00 to $202.00 in a research report on Monday, March 4th. StockNews.com lowered Packaging Co. of America from a buy rating to a hold rating in a research report on Friday, April 19th. Truist Financial lifted their target price on Packaging Co. of America from $170.00 to $187.00 and gave the stock a buy rating in a research report on Thursday, January 4th. Finally, Seaport Res Ptn lowered Packaging Co. of America from a buy rating to a neutral rating in a research report on Monday, January 29th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $173.57.

Packaging Co. of America Stock Down 1.5 %

NYSE:PKG traded down $2.67 during mid-day trading on Thursday, reaching $171.25. The stock had a trading volume of 541,829 shares, compared to its average volume of 699,110. 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 has a 1-year low of $122.20 and a 1-year high of $191.27. The stock’s 50 day simple moving average is $181.73 and its two-hundred day simple moving average is $168.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $2.20 earnings per share. Equities analysts anticipate that Packaging Co. of America will post 8.24 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced 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 2.92%. Packaging Co. of America’s payout ratio is currently 62.50%.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America 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 transaction, the vice president now directly owns 183,930 shares in the company, valued at $31,967,034. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the sale, the vice president now owns 183,930 shares of the company’s stock, valued at $31,967,034. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America 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 sale, the chief financial officer now directly owns 46,454 shares in the company, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. Insiders sold a total of 38,041 shares of company stock worth $6,799,177 over the last ninety days. Company 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.