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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PKG. StockNews.com cut Packaging Co. of America from a buy rating to a hold rating in a report on Friday, April 19th. BNP Paribas cut 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 note on Friday, April 12th. Seaport Res Ptn cut Packaging Co. of America from a buy rating to a neutral rating in a research note on Monday, January 29th. Bank of America upgraded Packaging Co. of America from a neutral rating to a buy rating and boosted their price target for the stock from $172.00 to $202.00 in a research note on Monday, March 4th. Finally, Wells Fargo & Company upgraded Packaging Co. of America from an equal weight rating to an overweight rating and boosted their price target for the stock from $187.00 to $191.00 in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Packaging Co. of America currently has a consensus rating of Hold and a consensus price target of $173.57.

Packaging Co. of America Stock Performance

Shares of NYSE:PKG traded down $2.67 during trading on Thursday, hitting $171.25. 541,829 shares of the company traded hands, compared to its average volume of 699,110. The stock has a market capitalization of $15.37 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 4.15 and a beta of 0.78. The business’s fifty day moving average is $181.73 and its 200-day moving average is $168.06. Packaging Co. of America has a one year low of $122.20 and a one year high of $191.27. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG) last posted 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. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the company earned $2.20 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts predict that Packaging Co. of America will post 8.24 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Insider Buying and Selling

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the company’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 directly owns 46,454 shares in the company, valued at $8,478,319.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the company’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 directly owns 46,454 shares in the company, valued at $8,478,319.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the sale, the vice president now owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Insiders sold 38,041 shares of company stock valued at $6,799,177 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

About Packaging Co. of America

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.