Stock analysts expect Packaging Co. of America (NYSE:PKG – Get a rating) to report earnings per share (EPS) of $2.87 for the current fiscal quarter, according to Zacks. Five analysts provided earnings estimates for Packaging Co. of America, with the lowest EPS estimate of $2.84 and the highest estimate of $2.91. Packaging Co. of America reported earnings of $2.17 per share in the same quarter last year, which would indicate a positive growth rate of 32.3% year over year. The company is expected to release its next earnings report on Monday, January 1.
On average, analysts expect Packaging Co. of America to report full year earnings of $11.66 per share for the current fiscal year, with EPS estimates ranging from $11.35 to 12.02. $. For next year, analysts expect the company to post earnings of $12.23 per share, with EPS estimates ranging from $11.00 to $13.83. Zacks average earnings per share is an average average based on a survey of sell-side analysts who track Packaging Co. of America.
Packaging Co. of America (NYSE: PKG – Get a rating) last reported quarterly earnings data on Monday, April 25. The industrial products company reported EPS of $2.72 for the quarter, beating consensus analyst estimates of $2.53 by $0.19. Packaging Co. of America had a return on equity of 27.11% and a net margin of 11.50%. The company posted revenue of $2.14 billion in the quarter, compared to $2.05 billion expected by analysts. In the same quarter last year, the company posted earnings per share of $1.77. The company’s revenue for the quarter increased by 18.2% compared to the same quarter last year.
Several brokerages have recently published reports on PKG. Argus raised its price target on Packaging Co. of America from $160.00 to $176.00 in a Friday, April 29 research report. UBS Group downgraded Packaging Co. of America from a ‘sell’ rating to a ‘neutral’ rating and raised its price target for the company from $127.00 to $154.00 in a research report Thursday, February 17. Truist Financial raised its price target on Packaging Co. of America from $170.00 to $182.00 in a research report on Wednesday, April 27. Seaport Res Ptn upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating in a Friday, January 28 research report. Finally, Wells Fargo & Company raised its price target on Packaging Co. of America from $154.00 to $162.00 in a Thursday, April 28 research report. Four research analysts gave the stock a hold rating, three gave the company a buy rating and one gave the company a strong buy rating. According to data from MarketBeat, Packaging Co. of America has a consensus rating of “Buy” and a consensus price target of $165.86.
Packaging Co. of America stock traded at $3.49 at midday on Friday, hitting $159.90. The stock recorded a trading volume of 689,735 shares, compared to an average volume of 690,752. The company has a market capitalization of $14.98 billion, a PE ratio of 16.35, a price/earnings ratio of growth of 2.58 and a beta of 0.76. The company has a debt ratio of 0.66, a quick ratio of 1.99 and a current ratio of 2.96. Packaging Co. of America has a fifty-two week low of $124.78 and a fifty-two week high of $168.50. The stock’s 50-day simple moving average is $157.72 and its 200-day simple moving average is $146.07.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Wednesday, June 15 will receive a dividend of $1.25. This is a positive change from Packaging Co. of America’s previous quarterly dividend of $1.00. This represents a dividend of $5.00 on an annualized basis and a yield of 3.13%. The ex-dividend date is Tuesday, June 14. The Packaging Co. of America’s dividend payout ratio is currently 40.90%.
Separately, director Donna A. Harman acquired 500 shares of the company in a transaction dated Wednesday, May 25. The shares were purchased at an average cost of $153.21 per share, for a total transaction of $76,605.00. Following the acquisition, the director now owns 2,725 shares of the company, valued at $417,497.25. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, VPE Charles J. Carter sold 7,347 shares of the company in a trade dated Wednesday, April 27. The stock was sold at an average price of $163.00, for a total value of $1,197,561.00. Following the completion of the transaction, the executive vice president now owns 23,996 shares of the company, valued at $3,911,348. Disclosure of this sale can be found here. 1.60% of the shares are held by insiders.
Institutional investors and hedge funds have recently been buying and selling shares of the company. Kestra Private Wealth Services LLC acquired a new stake in Packaging Co. of America during Q1 valued at approximately $212,000. Sawtooth Solutions LLC acquired a new stake in Packaging Co. of America during Q1 valued at approximately $343,000. The Manufacturers Life Insurance Company increased its stake in Packaging Co. of America by 4.1% during the first quarter. The Manufacturers Life Insurance Company now owns 89,376 shares of the industrial products company valued at $13,952,000 after acquiring an additional 3,504 shares during the period. Toroso Investments LLC increased its position in Packaging Co. of America by 257.4% in Q1. Toroso Investments LLC now owns 9,796 shares of the industrial products company valued at $1,529,000 after purchasing an additional 7,055 shares in the last quarter. Finally, Baader Bank INC bought a new position in Packaging Co. of America during Q1 valued at around $862,000. Hedge funds and other institutional investors own 91.01% of the company’s shares.
Packaging Co. of America Company Profile (Get a rating)
Packaging Corporation of America manufactures and sells corrugated cardboard and corrugated packaging products in the United States. The Company operates through the packaging and paper segments. The Packaging segment offers various corrugated and corrugated cardboard packaging products, such as conventional shipping containers used to protect and transport manufactured products; multicolored boxes and displays that help market the packaged product at retail outlets; and protective honeycomb packaging products, as well as packaging for meat, fresh fruits and vegetables, processed foods, beverages and other industrial and consumer products.
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