Packaging Co. of America (NYSE:PKG) Issues Q3 Earnings Guidance

Packaging Co. of America (NYSE:PKG) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $2.45 for the period, compared to the consensus EPS estimate of $2.43.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PKG. StockNews.com cut shares of Packaging Co. of America from a buy rating to a hold rating in a report on Tuesday, July 16th. Wells Fargo & Company lifted their price objective on shares of Packaging Co. of America from $191.00 to $194.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. Bank of America lifted their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a buy rating in a research report on Monday, June 17th. Truist Financial lifted their price objective on shares of Packaging Co. of America from $208.00 to $215.00 and gave the company a buy rating in a research report on Tuesday, July 16th. Finally, BNP Paribas lowered shares of 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. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Packaging Co. of America has an average rating of Hold and a consensus target price of $186.33.

Packaging Co. of America Price Performance

Shares of NYSE PKG traded down $0.62 during trading on Tuesday, hitting $192.82. 872,543 shares of the company were exchanged, compared to its average volume of 627,766. The company has a market cap of $17.32 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 5.11 and a beta of 0.77. Packaging Co. of America has a 1 year low of $136.54 and a 1 year high of $194.42. The firm’s fifty day moving average price is $183.62 and its 200 day moving average price is $178.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.10 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 EPS. On average, sell-side analysts expect that Packaging Co. of America will post 8.43 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.59%. Packaging Co. of America’s payout ratio is currently 62.50%.

Insiders Place Their Bets

In related news, Director Karen E. Gowland bought 300 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were bought at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the transaction, the director now owns 916 shares of the company’s stock, valued at $166,766.96. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.