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

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wells Fargo & Company raised Packaging Co. of America from an equal weight rating to an overweight rating and increased their price target for the company from $187.00 to $191.00 in a research report on Wednesday. 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 raised Packaging Co. of America from a neutral rating to a buy rating and increased their price target for the company from $172.00 to $202.00 in a research report on Monday, March 4th. Truist Financial raised 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 downgraded shares of Packaging Co. of America from a buy rating to a hold rating in a report on Friday, April 19th. Five equities research 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 an average price target of $173.57.

Packaging Co. of America Stock Performance

NYSE PKG traded down $2.67 during trading on Thursday, hitting $171.25. 541,829 shares of the company’s stock traded hands, compared to its average volume of 699,110. The business has a 50 day moving average of $181.73 and a 200-day moving average of $168.06. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27. 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 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 (NYSE:PKG) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share 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 firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The company’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Packaging Co. of America will post 8.24 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company 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. This represents a $5.00 annualized dividend 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 is currently 62.50%.

Insiders Place Their Bets

In related news, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction 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 owns 183,930 shares of the company’s stock, valued at $31,967,034. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction 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 completion of 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 SEC, which is available through the SEC website. Also, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 183,930 shares of the company’s stock, valued at $31,967,034. The disclosure for this sale can be found here. Insiders sold a total of 38,041 shares of company stock valued at $6,799,177 over the last quarter. 1.60% of the stock is owned by corporate insiders.

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.